gave me some diversification that I was looking for .  

Arguably, more doors gives you more income streams and more diversification.

The Securities and Exchange Commission has released an investor alert addressing Self-Directed IRAs and the risk of fraud.One of the biggest risks of owning real estate in a Self-Directed IRA is the potential lack of diversification.

Both of these play right into the fund strategy and directly conflict with the individual asset strategy.From the LP investor's perspective, if they are investing with the right fund operator they get to participate in the best deals, and they get some diversification by having multiple assets with one investment. 

By now it is likely most of us have been affected financially by the whole Covid-19 pandemic. I currently have a teacher in one unit, retirees in 2 units, and construction workers in a few units. So far so good. No...

It's not like I've read a dozen books or a hundred posts that advocate the type of diversification you're speaking about. 

Greater opportunity for diversification of investments because the same amount of dollars can be spread over many projects3.  

OTHERWISE,  there really isn't any safe return, diversification limits the effects of a loss but a loss is still a loss. 

Diversification is also key.

And another might be better diversification into markets that have better economies and a healthier housing market.The difference in cost would be the acquisition cost to invest, Outside of that there should be little difference unless you're thinking about rehabbing from a distance.