RE Professional - can I deduct losses from rental AND syndicate?

[Cooper Marcus]

Assume that (in a given year) I'm a Real Estate Professional, and I've passed both the 750 hour test for my real estate activity and the 500 hour material participation test for a rental property I own and manage. Assumed this rental property generates tax losses (due to depreciation) - I understand I can deduct these losses from normal W2 income that my wife earns. 

Now, assume that in this year I invest in a syndicated rental property investment (as a non-managing limited partner). Assume that this investment generates tax losses (again due to depreciation) that are reported to me on a K1.

Questions: 

• Can I make the grouping election (IRS Regs. Sec. 1.469-9(g)) and elect to group my rental property and my syndicate investment so that I can deduct the sum of the losses from my wife's W2 income? 
• Is there some reason I would not want to make the grouping election, and would instead want to take only the losses from the rental property I directly own and manage as deductions against W2, while taking the investment losses as normal passive losses?
  • I believe the main reason I'd not want to group is if the timeline for selling the rental property is significantly different than the timeline for the investment syndicate to be wrapped-up - because I can't deduct suspended losses until BOTH the rental property and the investment are disposed of.

(This very comprehensive article by Tony Nitti was helpful for understanding many details of the Real Estate Professional qualification, but after a few careful readings, I'm still left with the questions above)