Ali does make a good point it is just one method of buying.. at the end of the day owning any rental anywhere requires the Investor to engage and use much more due diligence and active participation ( in most cases I know some get very fortunate and have one tenant stay 5 years and its neat and nice) but that is not the norm in the rental business in most place's..

If you're really against participating in the program, don't own low income rentals, raise your rents, etc.

While I understand that the OP queried participating in a loan fund vs buying individual notes however I offer another perspective.Most investors begin by first understanding the collateral.

I could not in good conscience expect a client to pay $800 for each LLC they are a member of in which they do not participate in the management of operations. 

Mahalo for your continued participation but can we please keep it more focused and more of an even exchange?

That would make an interesting and educational discussion that I would like to participate in.

Hey guysThank you very much for participating.

Conversely, I have conversations with folks who are not accredited who are incensed that the government set such rules which disallow them from participation based on their income or net worth.It's a bind.  

Assuming you want to pursue this opportunity further (i.e. not sell, continue the development) you would need to put together a package that entices someone to participate.

REI with poor reserves should prioritize cash flow.good luckFor those without significant reserves, they shouldn't participate in physical asset speculation.