Pros
Little to no oversight. Can do whatever you want.
Cons
Worst company I have ever worked at. There is no culture, no communication, no leadership, no understanding of what the company goals are. The company is not a real estate company, it is a fee shop that has no regard for being a fiduciary for their investors. Deals are done to generate fees and then bring in the operating companies to run them (poorly at that). The turnover is INSANE - to the point that there are no exit interviews or requests for feedback because so many people leave. There are people on the corporate team that have never met each other and are all in the dark because there is no communication from leadership. The company states it is "entrepreneurial" which is just an excuse for "we don't care what is going on or if you succeed".