the primary role of CF is to recover your cost, which is any cash you put into the deal. 

That makes sense to me and gives me more clarity on my role.

Here in Kansas City I'm looking for a mentor role and obviously network a lot this first month.

Checkbook control can provide some peace of mind, however, as you would have direct control over the assets and greatly reduce the day to day role of the custodian.

Such as setting your improvement value when you purchase your property and not taking the tax role with your Cpa.

Insofar as possible, I will try to contribute from the standpoint of how I made the decision to self-direct a portion of my IRA funds.As anyone in a customer-facing role on the "custodial side of the table" will tell you, one of the toughest challenges is to provide education and information without it sounding like advice (which we are not permitted to give). 

Even a custodian with better customer service will still likely leave you frustrated.You should evaluate a plan that offers checkbook control so the custodian's role is limited and you will have much more direct control over your investment transactions. 

Second, in order for the sale of an investment to not be considered a security, all investors must have the same active decision making role in the investment.  

@Joel Florek If you are absorbing some of the typical PM roles, what are you paying them?

@Dominic Greeley  It generally doesn't matter LLC vs holding property in your personal name for tax returns, it will all be put on Sch E on your return.