Housing has always just been shelter to me.I would be perfectly happy renting for the rest of my life with one big exception... it's disadvantageous from a financial perspective.

But perhaps also among geographic markets, operators, and perhaps classes of property.Funds have three primary disadvantages over single-asset syndications, however.  

These goals dictate the ideal asset type, in may case, single family homes.If you understand duplexes and they support your goals there is no reason why you should venture out into 4 families, which are typically lower rent per door. 8 and 12 unit buildings are different animal all together and in a way the worst of both worlds - these "mom and pop style MF" have lot of the disadvantages that come with MF, but don't give you all the advanatges and synergies that you get with a "real" MF, say 75 units and up with professional on site management etc.

. - What are the disadvantages to buying in these areas that I may be overlooking?

You have your large players, which can have both advantages and disadvantages.

I just wasn't sure on what the more seasoned investors thought about where to tap into funds for the 25% down and if there were any advantages or disadvantages to one or the other. 

What are some advantages and disadvantages of using a HML?

Management wise it wouldn’t be a disadvantage other than during thunderstorms.

Very good return in my opinion.Repeat - The only disadvantage is your money is stuck in, but the rehab either requires; none or very little.

No reason for you to over complicate things when you'd be at such a disadvantage geographically.