Private placements are inherently risky by that very fact - they are not regulated or audited  to the degree that a publicly traded company is.  

Inspectors always make things sound really bad, that's their stock in trade.

IRS pub 425 says, "Passive activities include trade or business activities in which you don't materially participate.

I am a digital marketer by trade so I wanted to see their sales funnel and also legitimately learn more about the program.If I could choose one word to describe my experience it would be Disappointment.So why was I disappointed and why am I even writing this review?

To provide an example, I was previously employed in the legal department of HHM, which at the time was a an affiliate management company of a publicly traded hotel development/operation company where we managed  the portfolio of  hotels as well as provided 3rd party management services.

As @Sam Grooms mentioned, we've competed (unsuccessfully) against them in the highest and best.Everyone has their "tricks of the trade".

@Jon GrevesInterview multiple property managers, handymen, and plumbers, electrician and any other trade that you might need for either STR or a long term rental.

There is much more but lastly I am firm believer is the team approach as a new agent get on a team have them feed you leads and get paid to learn the trade.

And I would look at what 5 bed vs 4 bed with one larger unit are trading for.  

The husband took care of the property like it was his house, he was a painter by trade so that helped out a lot!