And in the modern era, real estate and stocks returned practically the same amount (within 1%).

But in practice most of these numbers are likely not taking into account turnovers and repairs.

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

It seems like a complex process, especially when it comes to coordinating contractors, supervising renovations, and ensuring everything goes according to plan.Could you share any advice or practical experience on how to handle these types of projects efficiently from a distance?

Not sure if this has worked through but a winery that has been long on the market might be suffering from poor practices by the viticulturalist.

Quote from @Derrick Lewis: I looked up NY state law just for fun and found a good list of recommended practices.

It's common practice in Europe, Canada, Australia but almost unheard of here in the US.

We don't practice discussing the details of private transactions publicly, thats just not good business.

Your idea of using a second home mortgage for house hacking is both creative and practical, especially given your flexibility.

It's a detailed perspective on how private lending works, with practical strategies for building wealth through this niche.