You likely don't have the net worth, proper LLC management or proper separation of personal interests to make this an effective approach. there numerous BP threads you can search to get more insights. tldr - keep under personal name and get a good umbrella plan. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

They also didn’t like the idea that Phase 2 investors would dilute their position when they come in later.What are some fair and effective ways to address this concern?

Quote from @Dominic Mazzarella: Quote from @James Wise: TikTok is supposed to be shut down in the U.S on 1.19.2025 unless the Supreme Court blocks or delays the U.S. ban per Trump's request.I won't pretend to have any idea how the inner workings of the data collection between China and the USA effect the world, but on a personally business not, I like it.

Also, how effective is their CRM—does it integrate well with other tools, and does it offer automation for follow-ups?

Just remember: most negative reviews are written by problematic tenants.

Or there can be being a GP in a syndication, where you have, effectively, no money down: source $3mm deal, commit $50k with your LPs, collect 3% acq fee ($90k) without ever funding your $50k... you pocket $40k, and have a $50k interest in the deal. 

Quote from @Sherief Elbassuoni: Whenever I have cash, I put it as a downpayment for a new rental.Even if you got 4-5%, this is less than inflation, so your money is loosing valueMonth over month inflation is more current information than year over year...and it has been near zero in total for the past nine months and negative for 5 of those 9 months. 

I'm seeing a lot of negative stuff here and it's a big price tag, but for me I think I really need the coaching rather than hunting and pecking on my own since my learning curve is huge and I don't even know what region to begin in.