Any guidance, thoughts, perspectives would be greatly appreciated.

I appreciate all the perspectives.

Your background as a Family Physician, investor, and licensed realtor provides a well-rounded perspective.

Regarding risk my perspective is that it is much lower than typical common equity deals in that there is a 25% cushion re valuation drop before the pref equity holders would be impacted.

@Brian Scott From a tax perspective, converting your entire property to rental units comes with several benefits.

In my experience, section 8 tenants can be a real pain and should be vetted more from a holistic perspective than from a traditional quantitative perspective.

Going to a meet up is good you can get the local perspective from other investors, but eventually you will need to take action.Depending on your goal you could partner with someone who has done it before or find a team that can help you.  

Bryan probably has the best perspective here ^. 

.- Pricing 'should' be better from the perspective of fees, contractors, rates, etc. that the sponsor gets vs. me as a solo investor.- I don't care if the investment is less liquid vs. an ETF or REIT and I would aim to hold it for 5+ years at the bare minimum.Some other questions I had and would appreciate any advice:- Is an average minimum of 12-15% irr reasonable for syndicated deals ($10mm - $100mm) with an experienced sponsor?

You will meet people from different walks of life that will give you different perspectives on real estate investing.