Own properties
Pro
- has own control, sell, buy, rent.
- Once sold the property, pocket all the realised gain.

Cons
- troublesome, collect rent may not as simple, all depended on luck on tenant
- Generally lower yield, residential is lower yield than reit (commercial property)
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Reit
Pro
- Easy, simple, don't need to deal with troublesome tenant
- Can buy in block, has 5k, invest 5k, has 10k invest 10k, can liquidate whenever your like, while own properties cannot have this luxury. C

Cons
- has no control on the property
- subjected to market risk.

Personally, I preferred reit over own properties because :
1. Don't need to deal with hassle tenant, property issue
2. Liquidity issue.

But reit has one distinct disadvantage, ie. unit reit price can way below the real worth of the NAV.