All can have different risk reward scenarios, all can have different perspectives.  

I could also just do a straight arbitrage/master lease but prefer the co-host model as I see it as more equitable and disperses risk and reward more evenly between myself as the co-host and the syndication LLC as the property owner.

With that said, if you decide to change your plans and not get into REI that solution will still reap it's reward for peace of mind.

@Sean Kirk As someone who owns a Property Management company in Birmingham and has experience working with both Turnkey providers and Value Add investors, I’d recommend steering clear of Turnkey properties.While Turnkey properties offer a lower barrier to entry, they also come with much lower rewards.

And don’t forget that your legal bills, process server fees, etc are higher.But even after the expenses and the higher maintenance, the reward of the much higher NOI is there to be earned.

@Chris SeveneyDebt adds risk AND reward. 

What you’re describing, often called Residential Assisted Living (RAL), can definitely be a lucrative and rewarding strategy if done correctly.

Procuring cause has morphed into which agent did the best job for the client, regardless of the timelines, so that bad agents don't get rewarding for opening a door and then not following up to help make an offer.

With passive investing, you get to reap all of the rewards without needed to put in nearly as much work.

Currently, I'm focused on selling new construction duplexes in downtown Indianapolis, which offer great potential for long-term investment.While I'm still relatively new to the industry, I've found that consistency and reliability often trump the allure of high-risk, high-reward strategies.