If you look at the various reviews online it states that the fees are higher than an index fund (Vanguard does offer Reit's). It also discusses different tax implications and the risk as well as advantages involved.
Here is a recent review:
http://www.investmentzen.com/fundrise-reviewInvestor junkie and the fool.com also have interesting reviews.
From what I understand, it is tempting, considering the low investment required, but it seems to be riskier than a straight home rental, you are buying a sliver of a big commercial project and hope it will bring you good returns.
I think an individual project may well pay better distributions than you might find with a Reit, but I think you stand to lose much more than you ever would with a Vanguard Reit bundle.
Fundrise started out with financing individual projects-crowd sourcing and have now morphed-expanded into offering a product similar to a mutual fund. I am a bit weary of privately funding vs an index fund, but if one is not risk-averse it might be a chance to diversify.
They've only been around since 2010 and have only added the eReits since 2017 - so they really are still a new kid on the block, offering a twist and maybe an opportunity to make better money at a higher risk/expense?
I find it kind of amazing that they started out with crowdsourcing as little as $500 from each investor.
OP, to answer your specific question, I don't think this is comparable to your own rentals in any way. You have no involvement and no say and if things are mismanaged you lose.
TBH, I considered fundrise a couple of years back, because of the low threshold and owning a piece of an asset other than stocks. Diversification is a big draw, but in the end, I decided the risk was too high, unless you have a bit of play money or deliberately consider a high-risk investment.
Like pantherchams stated - real estate is a game:) and it can be fun to have a little skin in the game.