Choosing the right location is the most important, as well as understanding its risk/return profile and decide if you're ok with it.

I'm looking into this as well.

In the process, I would either lose this potential tenant and yet would have gone thru the process esp. when I wanted to avoid getting engaged with the city Like someone's comment elsewhere - the tenants who come thru this program are not well earning, so what is the probability they will 1) stay longer& not have to be evicted and or 2) the payments in time/ partial 3) will they trash the place

Yes, that's how I look at it (but quarterly as well as annually since we have such a seasonal market, I like to look at same quarter over quarter).  

@Bob Gruenig Yes I agree with @Chris Tracy that you should be talking to an SEC attorney. https://www.crowdfundinglawyers.net/ or https://syndicationattorneys.com/*You will need a real estate attorney as well but these people above will help guide you better.

Lastly, we built wealth and equity with long term holds. 

In Illinois, I have problems getting rent for last month on the lease.Please advise.Thanks.

Hopefully someone from the area can chime in but shopping quotes from reputable and well rated or referred PMs will illustrate a better picture for you.

Last tenant was paying $2300 but now I am clearly struggling to lease it even at $1900 (reduced from $1950 just yesterday)https://www.zillow.com/homedetails/2305-Windsong-Trl-Round-Rock-TX-78664/29568681_zpid/?

I'm working to do the same in the state as well but have had some push back with the local municipal departments.