>  Some LP want cash>  Some want alternative real estate>  Some want individual properties currently within the partnership. 

It's really up to the individual investor (and their coach who helps them create their criteria and decision-making process.)

As an individual investor it’s nearly impossible to wear all three hats and execute efficiently and effectively, especially on a large scale.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

So i negotiate each one as they come in as a seller it has saved us substantially..

The fund itself is separate than these individual contracts.

New landlord question- if I have an individual who wants to rent my place for their parent - who do I have fill out the application?  

In other words, individual policyholders are subsidizing the losses. - Inefficiency with payouts and administration will be compounded as the FAIR Plan has zero experience with a major pay out and lack infrastructure of assessors and technology to distribute the funds they don’t have.

and many who reposition big multi do the same.. they have to vacate the units they have substantial negative cash flow then it starts to come back but they get big upside value add 

All the other individuals who have commented on This Thread get that, and I love them for it!