I've heard close times are longer and it's an administrative headache with higher origination fees, but can be worth it due to the rates and amortization schedule.  

@ myHi Mike my view is CFCs are not fun because they are an administrative nightmare to comply with the reporting obligations for and the rules that govern them are extremely complex to navigate.

These are inspections for your knowledge and detail what needs to be fixed.Depending on the scope of your renovation, there are also inspections required by codes administration and performed by codes officials when certain aspects of a structure are updated by licensed trade professionals (e.g., plumbers, electricians).

Thinking you're going to "hide out" with a Trust as a servicer is rather silly, since there are servicing requirements as to disclosures, contact information, tax reporting and other administrative requirements.  

I have two real estate offerings in my inbox from more experienced sponsors who are working with less experienced co-sponsors who found the deal but don't have the experience or investor database yet to take down the deal themselves. 

I have questions about staffing: Do you have an administrator on staff?

Still, the administration aspects can be frustrating at times. 

Fees are important, but if its a small difference, I choose the custodian/ administrator that I feel is faster and more customer service oriented.

If your local (to the real estate) lender does investment properties frequently, her database is full of exactly this information.

Also the selection of a competent fund administrator, which is the entity that handles the accounting and distributions to the fund investors -- is also an important aspect.