Written in the loan docs for most loans are clauses that allow the bank to take the funds in your checking/savings accounts, sometimes for reasons totally outside your control, such as banking regulations and requirements. 

Make them earn your trust and let them know and understand your goals.Until you are satisfied with Team members try to stay in control of those things you are responsible for and when your trust is made let them be on their own and not under your control.  

Would you be more or less likely to invest in a pooled fund with no control over hand picking particular properties in which to invest?

On another note, if you are looking to have access to some of the retirement funds without having to pay taxes, you could open a solo 401k plan, which can be directly invested in real estate, and then you can borrow some of the solo 401k funds.Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business.  

What you mentioned as your strategy is precisely what I've been doing in the market.  

I like to be in control and make sure my tenants have a good experience while living in my rentals.  

Or does there need to be a property under the LLC's control?

However, if you choose well, this fee should not be affecting your return significantly.The difference with doing it yourself is that you have complete control over it.

Many people find this to be safer, because they are in control of their investment.

I have never had a job not running over schedule and cost beyond control.