Limited partner in a multi-family opportunity fund ?

[Jill Davis]

Has anyone here ever become a limited partner in a multi-family opportunity fund? (basically a real estate investment where a private equity firm raises capital to fund the purchase of huge apartment complexes and then sells them a few years later?) If you have, I would love to hear your experience. I was invited to become a limited partner. Buy in is $30,000 per fund. I literally have never done this and I need to understand everything I should know about it. What kinds of things do I need to look for from this private equity group when doing my research? I just want to make sure I am educated on the subject matter.