Syndication vs Partnership

[Diego A.]

Hello Experts,

I am looking for some advice on what route to take. I have a group of friends that they are looking to invest in Real Estate in some deals together, but we are not clear on how to make sure we structure the partnership correctly.

I am  in real estate investing since 2018 where I invested in Single Family on my own and holding rentals as well, but I have never done a deal with partners. I am also transitioning full-time to real estate so this partnership will see my friends as LPs and me as GP running everything such as finding the deals, rehab, operations, etc. 

Syndications seems to be complex in terms of the legal process, and partnerships are complex in differenciating who is passive and who is active.

What are the pros and cons? What would be your advise being in this position?

I talked with a lawyer but I am running into the problem that his recommendation seems to be what is better for him, so also in search for other real estate lawyers in the area.