Can I pick the properties the fund purchases?

No, the blind pool fund will be actively managed by experienced real estate investors who are active duty and veterans. Their experience includes numerous multifamily properties across multiple states totaling $30M in assets under management.
They understand the demands active-duty service puts on members and their families, so this allows passive investment in real estate without the typical hassles for the active investor. The fund managers will be dealing with finding the properties, negotiating the best prices, renovating the properties, and either selling them or renting them out.