I take that $10K piece of my mortgage and put it on the HELOC and then through my natural "income in / bills out" banking, it's paid down in 6-10 months and a fraction of the interest, maybe $1000.

But isn't that a small fraction of investors?  

All you need is a fraction of that to cover the downpayment and closing costs

Why save up for a down payment and own a property yourself when you can take your scratch-off money and become a fractional owner, with all the rights & benefits thereof? 

I have worked with multiple investors who have set up their properties this way, but it's a very small percentage (a fraction of 1% of all those I have worked with spanning a wide range of overall property net worth sizes).Another potential negative is currently the 2017 title examination standards for Oklahoma say that the series' are only an "attribute" of the same LLC, not truly a subsidiary capable of acquiring, holding, and conveying real property in its own name.  

Since it is only a fraction of my in state portfolio I'm able to weather the lows. 

Now take a minority fraction of your income, say 40% (it varies),. 

For the past few years, it can be argued that it was very difficult to lose money as an operator with debt rates being a fraction of what they are now and a very bullish aura in the general environment.

A lot have came here due to political reasons or the ability to live near the coast West but pay a fraction of the cost. 

The second was expensive but it took a fraction of the time and cost.