I think the big question is how badly do you want to keep the extra $50k liquid?

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

For example: the multifamily sponsors will usually pay the considerable extra cost required to do a cost segregation analysis and this will increase the investor depreciation in the early years (versus an individual, direct investor who often will skip doing this because of the cost).The advantage of the passive investment is that you don't do any work.

It also allows gives you greater flexibility.Plus, once you flip the home and make a few dollars, you should be able to pay the HELOC to a zero balance as well as having extra funds to throw in your war chest.

Most investors let the tenants pay down the mortgage and use extra money for their down payment on their next rental.  

This extra road frontage now also qualifies my property to be able to be legally converted into a triplex from a duplex.

This is interesting and I look forward to the feedback.But, I don't know if I want extra buoyancy in a hot tub?

Going direct saves you and the seller money, giving you a lower cost to entry which helps all your numbers, but you have to put in the extra work to find that deal.

We will both keep our W2 employment for the near future just looking into getting an extra income or make our retirement easier.

If appreciation is slow and steady, and no extra liquidity is available, the basic fundamentals of personal finance do catch up to this investor.