U invest in the fund and there is no debt ahead of you you own the debt free and clear the only risk is they buy the wrong debt and the underlying collateral does not support the investment.. which is why you go with folks that have a lot of experience in the space and now how to value the collateral.

For a smoother, less risky rental experience,Party 1 is the better choice.

It's too risky in my market.

The headache and the risk is owning the mobile home.  

These are not risky loans, by any means in my mind.

Voucher holders are wildely more risky than tenants who can afford to rent high end properties.

Jim - yes, 100%I feel like especially in these type of syndicated FUNDS, there were operators that raised a bunch of money and then rushed out to immediately deploy the capital - overpaying for assets at the peak of the market and/or using risky bridge debt. 

The report is as good as the answers you provide to their questions.The risk is that you answer a question incorrectly which generates an incorrect report.I would have a discussion with your CPA to determine what the land basis is(required to start the cost segregation).I would also have your home inspection / appraisal on hand to answer the questions more thoroughly. 

but i hear ya. you do get what you pay for though and its not a race.. real estate is a long game and to me far more important to buy quality assets then taking 2 steps forward and 1 backward.. you may want to try both and see how they play out.. remote rehab simply is the most risky thing you can do in RE full stop.

And the investor said Why would i do that I can get 20 or 30% in Detroit with no clue as to risk.  I