The goal should be to "Control everything, own nothing".

You can influence (but can't control) how many people call you back but you can 100% control how many people that you call.  

With condos you also loose a lot of control over the property, especially in that price point, if the whole building starts to look bad you will start to loose value quickly, or if they decided that they need to do a lot of capital improvements then you will get additional assessments for that and as you mentioned appreciation wont be much if any.

And I didn't read about escrow being used this way but I thought it would be helpful if a seller might feel insecure with just a copy of a JV agreement from some investor taking control of their property perhaps in another state.

I'm in love with the business simply due to the amount of control available to structure deals in countless ways in real estate.

With the dollar range you are talking about, that should be very easy to build a pool of people who want to invest with you - as a private lender.Now on the business side of "private lenders" - these are companies that have a source of capital they do not control.

@Austin Fruechting Congrats on being able to truly say that you are your own boss, and can completely control your future!

Some things will be out of the control of the tenant.

Those details will be worked out before anyone takes control or possession of the property to avoid the issues down the line.  

Landlords that feel it is necessary are over controlling.