Thus, there is absolutely greater diversification of deployment to follow. 

I just don't how that is a win-win scenario for all stakeholders.I really want this turnkey approach to work as I am thinking ahead into the future where I don't want to manage potentially 10-20 property managers , I want ideally "single throat to choke" / single trusted advisor / consistent experience, and at same time diversification of geographies in case one area experiences turbulence.

Built in diversification.

Also important to me is diversification in local employment. 

@Ryan Cauzza, there are advantages and disadvantages to going the real estate crowdfunding route.Advantages: much less risk and greater diversification.

In my experience, Canadians buy in Texas for the following reasons:1) They want a US dollar denominated asset for diversification purposes2) US / Texas Investments are tax efficient and laws protect the investor and landlords.3) Texas provides good yield and has good appreciation as well.4) Last but not least: Texas is very affordableI have had experienced clients who already had Canadian portfolios and wanted to buy here for diversification.

Not saying to have no exposure as diversification is important, but perhaps limited exposure would be the safe way to play it right now coupled with another form of investment.

I have about the same amount to invest as the original poster (result of an overdue asset diversification) Some industries have a shame wall.

@Ben SmithWhat you have asked is a tremendously broad and open ended question.The simple answer is that a self-directed IRA (in various forms) is a means of diversification that allows the IRA to invest more broadly than just the stock market. 

(in the voice of Ross Geller lulz) when we need to.As far as flips versus buy and holds, I'm a huge fan of diversification especially in the current economic climate.