However, I am not in favor of this for various reasons. 

However, there is dramatic illiquidity in the marketplace and secondary markets are still not healthy enough for shops to offer favorable terms.

Gotcha, as long as you have a solid reasoning and logic, I'm all in favor of taking the (calculated) risk.

I think it's a great thing to do, even if you don't plan to be an active agent, just having access to the MRIS and real estate wherever it works in your favor as an investor.  

It still seems people are buying and selling but the inventory of homes has decreased which I though would play in my favor given the people still wanting to buy had less options which would push them towards my place.

Now I know the agent and have a good relationship which works in my favor.

There are places that are not in favor, though, just like during the GR.

You can put a long term agreement together with favorable terms and limited risk. 

When you find a sponsor you like, do yourself a favor and get clear on what your experience will be like AFTER you have invested.Does the sponsor have a communication plan?

It will make you look more favorable in front of a judge.