If the risks and rewards of RE are appealing to you, using any investment vehicle available to you do invest in that vehicle would be logical.

Thus, your risk reward is also substantially lower with a JV scenario.

Think about it as a reward to the tenant for staying long term. :-)

The amount they ask for the yearly fee is nothing for the rewards your are reaping, in regards to the stories you hear about people paying thousands for a real estate guru.

If I did not have a rewarding career which paid well and provided my family and myself the best benefits available I would go further in.I can certainly understand and appreciate the benefits and adventure of it, I find it surprising that others can't see the benefits of other avenues of investing... but what can I do.

Risk vs reward is not there.

It's simple risk/reward economies of scale that the big guys will be willing to gamble their 100K at lower rates/points. 

Reward.

It was very rewarding however I grew tired of the HMOs and cold weather.

The higher rewards come with higher risks that if not managed properly can bury an investor for good.