If a total renovation was recently performed with new roof, appliances, etc. it may be a better deal then another one that is in good condition, but hasn't had any recent updates.

So does this mean that other peoples return play zero role in your measurement of your performance?  

So for that reason this is where your sponsor due dillegence comes in play and what's has been their track record.Of course the normal warning that past performance is not indicative of future performance applies ;).In many of the platforms you will see repeat sponsors and some of it is just learning where I participated in a previous deal with the sponsor and trust them. 

@Mike Wood  10% is very simple in the performing note game... and other investment vehicles with probably a lot less risk as well.My main point to take devils advocate here is for others who read this and wonder how do I attract capital when I have none but I want to get in on the equity side.. and that is to always give the money the lions share until you have a stellar rep..I mean I still do this to this day... and that is why I am NEVER without more capital coming at me than I can deploy..

The PM is under-performing if they think there's not much they can do.

With low inventory and high prices considering the condition of homes to be subpar, I wonder if winning a bid from auction.com would be a better route, giving us the flexibility of rehabbing the home to our style while still gaining equity from the finished remodel would be best or waiting to see how the market performs in the next year.

She was nice and casual (no problem there) but didn't know how to write a contract with VA financing, even though I had told her we wanted to make an offer with VA financing a few days beforehand.  

My lender performed a title search and found that there was a second mortgage on the property.

Have a property inspection inside and outside performed and documented and start eviction immediately according to the steps outlined in the VA state statues.

Crowdfunding makes real estate easily accessible, however, in regard to institutional real estate investments, the advice of an expert who works in the industry every day, knows all the players and their track records, and performs due diligence on each offering is a great benefit to you and comes to you at no cost.