While there are definitely benefits to running a fund, it's tough to achieve success with funds as a beginner because oftentimes investors are attracted to the track record of the person or team running the fund. 

Hire a company/person that is solely a QI like @Dave Foster they do it every day and will keep you legal and on track. 

It was a relief to have the unit back on track!

My strategist explained possible implications could be (1) longer initial vacancy (~60 days), and (2) potential for PM team to not perform well (as there was not yet a proven track record of their work with RTR).After much discussion, we pivoted to a townhouse in Dundee, FL.

But then because they have established such credibility, they can easily buy now with great rate and terms from lenders because they have the track history. 

That is what often happens with many of these Co-GP's and gets dangerous when they are relying on their embellished track record to raise money from others.

I've done pretty well as a relatively novice investor in the stock market, just investing in S&P 500 tracking index funds.

They already have a track record (good or bad) with you, so you can decide based on payment history, inspections, etc.

Those details can ensure your projected $25K profit stays on track. 

Granted I did work on the RE items throughout the calendar year, but I didn't track the time.