Buy MF with w/cash,leveraged or invest in a syndicate? pros/cons?

[Mary M.]

Hello What are the pros/cons of each scenario and why would use one over the other?  

Invest all cash

Leverage

Buy in syndicate 

Lets assume someone has say 100-500k in cash and is looking to invest in todays market in MF  

Why would you pick one method over another and what would be your expected return etc. 

Thank you :)