I do want to invest directly in RE and have a little more control.  

On MFR in the years ahead local governments might put in rent control. 

Assuming the foundation is solid, #1 is controlling moisture completely.

I've also built and seen others build a lot of equity in that time.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the "sweet spot" in Metro Detroit.

Add a Smart TV or a Roku device to the list, along with a charcoal grill.  99% of my renters are guys with a high school education making around $2500/week. 

I highly recommend finding a market that is landlord friendly, cash flowing, doesn't have regular catastrophic events, property taxes are low, insurance rates are under control and you like the area.

The factors within your control/influence are much greater than some modest market environment headwinds.

 - the rent control will require paying tenants to rehab but that is fairly low cost in the scheme of the rehab value add and sell

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.

Additionally, for rate-term refinances, many DSCR lenders have no seasoning requirements at all.Easier qualification: DSCR lenders have much lighter qualification requirements than conventional or portfolio lenders, such as no DTI, income verification, or tax return hurdles that can slow down or disqualify loansFlexibility: While conventional and bank lenders are heavily regulated and follow standardized rules, DSCR lenders have much more flexibility and control over their guidelines.