Hi I'm a big fan of Spartan and have 4 properties with them the first dating back to 2019. Yes, the IPDs are highly useful and do a good job of giving you a sense of how the investment will fare if all goes as planned. But in reality, nothing ever goes exactly as planed with real estate as there are always surprises- good and bad. In my case the appreciation blew out the projections because of everything went up during the Pandemic. So that was a nice surprise. But I also had a few properties that turned over more than expected resulting in higher vacancy and expenses. But overall it nets out and you get what they promise- turnkey real estate with little hassle and a real opportunity to build wealth.
I don't have any properties with Spartan, but I do assist investors like yourself in building portfolios with long-term/turn-key SFH. I also operate in the Birmingham market and can provide some insight.
If you ever want to connect and compare apples to apples, I’d love to chat!