This would make decision making hard, on top of likely needing owners to sign mortgage guarantees, etc.Not enough involvement/too many owners, that you no longer satisfy SECs rules for involvement and it is really a security that needs registered or exempted.Some middle ground, like DSTs or these other fractional ownership, where the admin work is so intensive that fees need to be higher to make it worthwhile for the operator.Then again, I am drawn to real estate, so by nature drawn to traditional, proven structures.  

These strategies can help build equity quicker, lock in guaranteed returns, and allow you to act sooner if cash flow isn't a priority.Good luck!

Seller Financed: I don't see any verbiage in the loan document that made me think this is personally guaranteed.

And, then, as time passes, because the lifetime of the lease decreases, the real value of the property actually decreases towards 0 until the lease gets renewed and there's absolutely no guarantee that it will.

If you hold both (the second for wildfires because of the garage), overinsure.Your last post said you were trying to avoid headaches and these are both guaranteed to be emotionally draining and the biggest headaches based on your description of the upkeep on both, but I get it.

Don't buy turnkey when they are already factoring all the headache cost to you, and there's no guarantee a future headache won't happen.Having a 5 year old, a W2 and living in Cali is nothing.

S8 tenants are not the tidiest people out there......but thats the risk you take for guaranteed rent. 

I always look at current ARV and use that or lower for my sales price, never higher because I can't guarantee the market.

This seems to be less of an issue especially since when an LLC borrows for real estate at minimum the principles/owners personally guarantee the debt anyways. 

If you’re looking to build REAL wealth, then leverage of one type or another is necessary.Debt is one type of leverageSyndicators leverage investors capital as equityStart up companies leverage Venture Capitalists investments in both equity and debt.The real estate investor has 3 distinct “cycles” with debt leverage1st stage is debt secured by real estate but also personally guaranteed and often cross collaterialized2nd stage is debt secured by real estate but liability not personally guaranteed and recourse limited to specific property.3rd stage is debt free If you own units in a syndicated real property investment and the investment is leverage by debt you may not think of it as YOUR debt because you’re a passive investor, but your investment is encumbered by debt the same as property you own individually IF you haven’t personally guaranteed the debt.