You still have several options, depending on if you want to invest directly in individual properties or be a bit more removed:Full-service turnkey investment: Should be mostly passive after you do your due diligence and pick a provider, but don't skimp on your homeworkYou choose which props to purchase, but have no control over tenanting choices, some say in large maintenance expensesAvg cost for solid B/B+ prop in Birmingham (and some other markets but this is the one I have data for, since it's my market) is about $100k per door; you'll pay market price for a tenant-ready, fully rehabbed propertyPartnering with someone who does the on-the-ground stuff while you provide capitalCan be passive if your partner really knows their stuff, but more likely you'd be fairly involved with the choices madeMore control since you call the shots with your partnerYou can pick which markets and price points you're interested inPotential for higher returns (ie buying distressed and then forcing equity through renovation) if your partner is experienced and can execute consistentlyInvesting in a syndicateMany investors pool funds to invest in much bigger projects like commercial space or large MFRs, or in larger portfoliosVery passive, investors are not responsible for project vetting or management, but you have no controlMay have higher bar for entry, some syndicates require large investments and you'll need to have liquid cash on handBuying shares in a REITLike an ETF but comprised of real estate investmentsVery passive, but no control over which assets are held in the fundHighly liquid, easy to buy and trade, lower bar for entryEverything is a trade-off between passivity and control, time and money.

if the defendant said it was out of his control the judge sent him to prison for contempt, until he was mysteriously able to gain control.

These can be summarised as follows:What are the objectives of the joint venture?

The advantage of directly owning is not only having complete control, but also the ability to create sweat equity when you are cash poor.Really your best choice is probably to hire a property manager.

The rich don't own anything, they just "control" assets - and the goal of asset protection is to create that same "buffer."

Everything in between cannot be answered in one postNote investing is not for everyone - just like fox and flipping is not for everyoneBeing the bank people tend to believe they are in Note control.

My parents didn't want to risk a partially completed project on their property that wouldn't generate any income for years if it ever came to that (such ventures come with high risk).This approach might be common in real estate (understandable from the point of view of the developer).

@Andrew Angerer if you are using a conventional lender you have zero control or decision with the appraisal.

Is it an area you would venture to if the numbers are "good" or potentially "good" -  There is a 4plex am looking at there (2 beds 1 bath in each unit) - but the property is in pretty bad shape (foreclosure- fannie mae) - I have it under contract but still doing some additional due diligence.

That said, I also do like the idea of being a bit more in control, being able to learn a bit more on my own, and using some leverage from the bank to invest.I am interested in renovating/managing properties if it makes sense to build up something.