Up front fees (outside of appraisal fees) are typically a red flag when dealing with a HML.

So there will be a long lag between when you invest and when distributions start. 6-12 months typically. 

You typically need to be in the $400-450k range to see those rents.

In these instances typically the lender will pay it to protect their interests. 

It does share similarities with annuities, but the structure is designed for a specific audience:Property Owners: Typically those who already own income-producing properties but need liquidity for renovations, debt repayment, or other opportunities.Investors: People seeking exposure to real estate cash flow without the complexities of direct ownership, especially those already familiar with stocks or REITs.Again, the idea of the model isn’t for everyone.

The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

Next step is typically to file the action at the courthouse, like you said. 

I have seen a lot of folks that typically BRRRR pivot to flipping for the time being.

However, I am still very hands-on for my management business, typically logging 80 hours a week between my two jobs.

I can only think that this grows as we move into the typical buy/sell season.I assume that your buyer funnel is full, and a lot of people have the want to buy with a constraint or two (rate mostly) of some sorts and you're working with them to execute their purchase at the right time while working around their constraint.