I have seen a few try to get started over there last several years, but none seem to have survived (or are really bad at SEO and marketing) since I was not able to find any the several times I have searched.That being said, I know Cadre has launched a secondaries market for their own investment offerings, but that is limited in scope to Cadre positions, and is currently closed anyways and will be "re-opening soon". 

All-cash purchases provide stability and simplicity but may limit your portfolio size.A balanced approach could be:Use a portion (e.g., $400k-$600k) to purchase a few smaller multifamily properties (2-4 units) in cash-flowing markets like Toledo.

They have restrictions in place that place limits on days per year, occupancy, etc- but it's still doable (& profitable). 

The properties here require a proactive investment strategy that most investors are not accustomed to or simply have limited knowledge and resources to implement properly.

Additionally, my renovations are full guts anymore, which helps limit some competition and allows me to push the ARVs relative to other houses for sale in the neighborhoods.Admittedly, this doesn't necessarily create substantially more deal flow.  

In my county it's a one page form, takes about 2 minutes to fill out and they charge $15.However, limiting your liability is much more complicated than simply dumping a property in to an LLC.

There is some nasty foreclosure/usury limitations being challenged in CA courts right now and the appeals are still pending.

@Russell Brazil I did live in it, but not for 2 years unfortunately  Might have a break through here... you don't need to have lived in the unit 2 years. 2 years is to get the maximum limit of capital gains ($500k).

I personally buy buildings that either have limited commercial exposure in relation to the total units or building SF or alternatively buildings that possess commercial spaces that are large enough where placemaking can attract amenity tenants that benefits my residential real estate in close proximity.

Does that limit me somewhat absolutely.