Hi Lilly,Having an LLC has some advantages compared to flipping including the ability to deduct business expenses like mileage and meals, which can lead to significant tax savings.

Thank you,Nirav Since you already pulled the trigger...and are a limited partner...this means you have the benefits of that (i.e. no liability beyond your investment) in exchange for generally having no ability to vote or have a say in how the investment is managed. 

I love the ability to categorize all my spending and split transactions into different categories. 

Many investors also appreciate the ability to use leverage in real estate deals.Real estate can be a strong strategy for preserving capital because of its tax advantages and growth potential.

If you really don't value your agent's ability and think you can do it better, it's likely best that you 1) interview more to find one that you do trust, 2) go through the listing agent, directly, if you're that comfortable with handling your side on your own, or 3) maybe get your license so you can control your side of negotiations with the proper tools needed (MLS access with agent info, showings, contracts, tax records, uploaded listing docs like surveys, disclosures, broker assistance for questions, etc.).

Some sponsors are mitigating this risk by raising their own pref tranches from their own investor base, thereby giving them control over the terms.In a strong up market it’s likely that rent growth and strong demand will drive up income, thus driving up value, which supports the ability to take out the pref.  

However, both mobility and technology and the ability of more people to work where they do not live, has grown this niche, as @Dennis Smith has argued.

To answer your question, the advantage the GP has is control, and the ability to gain wealth from their equity position (hopefully not so much for asset management fees) by selling at a big gain.  

That seems crazy to me to think thats a bad deal.But what I don't see right now is the ability to get deals at any significant discounts and thats where I'm thinking I may be missing something here. 

It ties into your great grandfather’s troubles during the 1932 depression; your grand parents ability to purchase a home in 1953 for $100 down with a VA loan, and your own psychological well being at having to have a percentage of your income going to pay debt each month.However, unless debt is so debilitating to you that it keeps you up at night and inhibits your ability to make rational decisions, the decision to pay off debt early is merely a function of numbers.