If the inexperienced investor knew how much work, effort, time, analysis, negotiation, organization, capital, and knowledge it takes to successfully find, identify, evaluate, and close on a property that fits the criteria that gurus falsely claim they see 100’s of every day, 99% of them would abandon their real estate dreams” and pursue ostrich farms, mink breeding, or setting up a “down line” to sell condensed cleaning products that their “upline” has an exclusive distributorship on for the southwestern quadrant of Bisbee, Arizona.  

Haven’t had a call to them from tenants yet so hard to evaluate.

REITs are easy to get into and highly liquid - log in to your brokerage account and buy a share - but you have zero control whatsoever.so...  

However, you’d want to carefully evaluate market conditions to ensure you don’t lose too much on the sale.Pros:Avoid further investment and risk.Free up capital for other opportunities.Cons:Selling costs and potential difficulty finding a buyer.You may miss out on potential appreciation.Recommendations:STR Route: If you believe there’s potential to improve revenue and occupancy by refining your property’s appeal, going the STR route could work.

A complete pitch deck will include: We'll evaluate some live deals to make sure that your assumptions and ARVs are in line with what our underwriter says.

If you have a lot of equity in your home I would first evaluate if it's possible to leverage any of that equity to acquire another asset that would produce more cash using a home equity loan or line of credit3.

Every property of interest must be evaluated based on current and future performance.Current ConsiderationsTime to rentRenovation Cost & RiskInitial ROI and cash flowPurchase PriceMaintenance costAcceptable area rental restrictionsIn an area that is doing well and likely to do better in the future.In the migration path of urban sprawl.Future ConsiderationsThe location has a track record of appreciation and rent increases.It physically matches the expected demographic changes for the foreseeable future.Buy what your “customer” wants to rent, not what you think is a good property.

Although time consuming, I'm guessing that evaluating their condition periodically would help with the end of lease turnover cycle? 

Keep evaluating deals even if not ready to purchase the next one and keep your skills sharp.

The challenge you'll face is that, even though this is fundamentally real estate, you're moving from the SFH retail world to evaluating institutional assets within asset classes that are likely less familiar.The first thing you'll notice is that the sponsors (who are the Trustees of the trust and could also be thought of as the general partner of the deal) will issue a PPM (private placement memorandum) that is a 300-500 page document.