Investing in this deal appealed to me due to its stable demand, lower management costs, diverse tenant base, scalability, resilience during economic cycles, and potential for generating passive income.

On the company’s website, they do not publish ANY information on any of their past deals historical performance, actual to pro-forma results, or full cycle results.

I'm guessing if Buildium and Appfolio are like every other cloud service out there the issue isn't so much the cost (some can be passed through to the owners) but the training cycle on it. 

So one of my personal criteria is that I require my real estate sponsors to have full real estate cycle experience with little or no money lost.

I know a developer that has successfully gone full cycle using the San Diego ADU law that allows max AduS to legal existing space likely over 10 times.  

If I'm willing to invest in the right mentors, analyze deals,  and be educated with investment, the risk is minimized.Have you done any full cycles yet on flips?

There are always cycles in real estate, but because of the size of the housing shortage, lack of new builds, and the largest economy in the country, it's hard to envision where we won't continue to see price and rent appreciation.

I lived through 50 percent depreciation cycles in that market.

So while real estate can be a great vehicle - realize it’s cyclic - and you are in the high side of cycle.  

Seasoned investors constantly cycle through PMs, contractors and agents as they do more deals.