I am aligned w your view at the moment.

I see some interesting components of both.

Align yourself with professional legal and accounting counsel and remember that your competition for investors isn't other real estate shops, it's other investment products like stocks and REITS. 

I am in the process of putting together some final components of my REI business.

There are 2 components to mitigate when trying to dampen sound: transmission & reverberation.

You are competing against other financial services, i.e. stocks & REITs, align yourself with the professional legal and accounting counsel.

While the pending fiduciary rule is meant to hold fiduciaries to this standard, alignment of interests is necessary for every investor and successful investment.Unfortunately, many investment professionals today are not fiduciaries and are only held to the “suitability” standard, which could negatively affect the returns of high net worth investors.

Work with them to develop partnerships and splits that align your interests so successful projects yield above average results for everyone. 

Make sure goals are aligned!

Of course if you're buying from a wholesaler, the property will likely need work so I don't know if that aligns with your schedule and life.