It allows the bank to sit on its laurels as long as it wants, and then only pay a de minimis amount when it does eventually decide to foreclose.

We should see more in the years to come, and eventually, they might be more common to find.

With your large down payment they will still be mostly break even, but over time you'll benefit from the crazy appreciation that has been happening consistently in California for a century and the rents WILL eventually catch up. 

If he can't or won't, then the kid will eventually learn when they cut their finger (if that's even possible).

BTW, I did eventually see the light with leverage but not as fast as I should have. 

I purchased a piece of residential land on 2021-01-27 to build on and eventually be a rental property.

Eventually you will find a property you are ready to buy and then you start the land lording process which is your next adventure.  

In your situation, that could mean significant differences for eventual income taxes.

Something that has to be sold to provide cash flow until it eventually runs out. 

There are other concerns of course with a fund whereas you are not in control, but in most instances you will get about the same.If you eventually wanted to make a business out of this and do it full time, then of course there are a lot more advantages to start doing it yourself.