Just looking at the Philippines in fact and buying a resort condo for part of the year use and renting it out when not using it.One thing that keeps pulling me back is too much diversification and many more people to work with for each location instead of focusing on my current teams for real estate investment.  

Might be an appropriate diversification option to consider.

There is something to be said for spreading to different areas for diversification, however, that does increase the work effort.  

Personally I don't actually use debt platforms anymore because I find more conservative LTVs and selection criteria (nonjudicial state only, etc.) in hard money loan funds, plus there is the extra benefit of instant diversification and not having to do constant due diligence on new loans to turn the portfolio over every several months.

The property is in La Mesa, a city not exactly known for its racial diversification.  

Hey @Rachel Dixon here are a few things that I would think about.If you buy one property in cash....Lower risk in meeting obligations as you have no debt to serviceLower actual returns, as your invested capital is higherHigher cash flow per unitLack of diversification.

Diversification kills profits in so many ways.Along with this is "don't grow too fast", as the expenses outpace the returns and drive liquid cash into the basket. 

The key thing to understand is that this concept is purely diversification for the IRA. 

They provide you with hard real estate, but can also give you some diversification.

Yes, that means you are spreading the profits too but multifamily investing with partners when done right is a good diversification play.