Little help analyzing a syndicated multi family deal

[John B.]

Hi,

Through a syndication portal, I got access to this equity deal (as part of the 86% pool). It's a 52 unit in a B class neighborhood in the Sacramento area. On top of checking the financials, I took a look on craigslist and other places to make sure the current rents were comparable to the one advertised in the analysis put together by the sponsor. 

I am also fairly familiar with the area and know there's generally a strong demand. The sponsor is looking to bring the cap rate up ~1% and then sell in 2-3 years.

For someone who is not yet ready to go through the active way, would a passive deal like this be reasonable? I'm really not looking for a yes/no, to my "untrained" eye all the numbers seem ok (expenses don't seem under-estimated, the increase of ~250$/mo/door rent over 3 years seems reasonable considering the area, sponsor has some skin in the game and they have been in business in that area for a couple decades, ...), so I was looking to some more seasoned investor willing to share with me any clues as to how this deal might be bad (the only one I can think of is that returns might be very tight if a downturn occurs over the holding period, however since this one is not a class-A SFR property it should be more resilient).

I would be looking to invest about ~50k$ in this, which is a small enough portion of my net worth (< 10%).

Thank you.