Multi Family Syndication Questions (Advice Needed)

[Sean Richway]

Looking at getting started in multi family acquisitions and I wanted to pick the brain of the members on the site for some questions/topics that are not discussed as much.  These are a bit more detailed on the GP side but wanted to get some perspective from others regarding these items:

1.  When syndicating apartment buildings I am assuming the GP is raising the acquisition fee and Cap X requirements as part of the LP equity amount?

2. Besides the rent roll and T12 what would you suggest reviewing or requesting?

3. Is the asset management fee charged by the GP factored into the CAP rate? I am assuming it is not since it can change from sponsor to sponsor but wanted to make sure.

4.  Any tips when interviewing a potential property manager?

5.  Any specific metrics or stats  you look at when evaluating a suitable market?

6. Any specific processes or procedures followed when it comes looking at a deal, issuing a LOI, underwriting the deal, signing the purchase contract, raising the capital, securing debt, etc. More looking for timing and at what point each step would be done.

Those are the main points I had right now I was curious about.  Appreciate everyone's help and feedback!