LP Syndication Investor-Sponsor

[Sandra H.]

When investing as an LP in a MF syndication does it matter which sponsor on the team you apply with? Does it all go in the same pot or do the sponsors receive different fees or credit among themselves for sourcing the investor? Spoke with two sponsors at an REI event (both great) and didn't know they are sponsoring the same deal as a team.
Also what criteria to look for as a first time LP? Location? Is a Class A and B asset in a Class A and B location less risky than a asset C in a B location? Even if the numbers look similar? Should I be focusing on the investment amount per number of units? Business strategy? After reviewing many deals they are all starting to look the same as far as CoC, IRR, EM, value add, hold 3-5 years etc.