What are the co op problems with REI?

I'm curious to understand the cooperative issues that arise with Real Estate Investment (REI) trusts or funds. Could you elaborate on some of the common challenges that investors and participants in REI co-ops face? Are there specific hurdles related to transparency, liquidity, or regulatory compliance that need to be addressed? Additionally, how do these problems differ from those encountered in traditional real estate investments, and what strategies can be employed to mitigate them?