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. 

You could justify holding if you were going to hold them for a decade or two, but if you aren't willing to put that kind of money into them for that long, you might do yourself a favor by cutting them loose quickly.Try @Dan Heuschele for some local insight.

I purchased a home on a short sale several years ago and thought they had fallen out of favor with the increase in property values. 

I favor Chula Vista south of San Diego for the best long term play. $1Billion Project approved for West Chula.