There are many different pros and cons of this strategy, and I’ll outline a few of them below:ProsPre vetted properties where the due diligence has already been completed and results and a proforma are provided prior to your investmentAbility to invest in multiple single asset investments to offer similar diversification benefits as the multi-asset modelPotential for “hitting it out of the park” returns on an amazing investment that far exceed the proforma returnsHold times are generally shorter as the exit strategy is based on only one assetConsRequires larger investment dollars to gain diversification across multiple assets, asset classes and/or geographiesTimelines can be very urgent as there are usually limited investment spots available and good investments can fill up very fastMulti Asset Real Estate InvestmentsOnce again, it’s not difficult to figure out that multi asset real estate investments include more than one specific property.

Would you say this strategy should be more a diversification tool rather than a savings account alternative?

Just like investing in the stock market, diversification hedges your risk. 

Even then, I would look elsewhere for the sake of diversification such as oil and gas partnerships etc.

If that is not an issue, the diversification would be a benefit.

In part, this was attractive to me because of tax efficiency and diversification (roughly half my equity would be split into DSTs and this mortgage paper).

As of this writing, the S&P 500 was down a little over 17% year to date, and in the same period, my passive investments have been kicking off 5-7% monthly distributions, one of my passive investments went full cycle in just 14 months producing 80% returns, and I sold my long-term rentals that produced about 20% returns annualized over the past 2-3 years.Bottom line: I’m very glad that I invested heavily over the past 10+ years in the real estate space, and I believe that everyone should have at least a portion of their net worth in the hard, physical assets like real estate.I’m not suggesting that everyone should have over 50% of their net worth tied up in real estate investments like my wife and I, but real estate investments can and should part of your diversification strategy to make sure 100% of your investments are not subject to the volatility of the stock market.I’ve recently started tracking my investment allocations across the following categories: stock market in retirement accounts, personal residence real estate, passive real estate investments, cash and autos (anything with an engine – Yes, that’s a Dave Ramsey’ism).

That's understandable but I wouldn't forgo the huge benefits of diversification (including on the currency) and getting higher return overseas just because of the inconvenience of a potential tax audit.

I’m a fan of diversification.

It also means diversification across multiple asset types, geographies, operators, and investments.Thanks again and best wishes!