Our team discussed multiple investment options with him, including new construction homes in nice areas that likely attract better quality tenants.

I've used mine multiple times in the past deals, including a VA jumbo loan. 

Lastly, if you still decide syndications are appealing, get educated on how to vet the lead sponsor (including deep background checks), the market, and the deal itself (even though some concepts are similar, it is not the same as the single family long term rental analysis).

If its legit i tell them to include the late fee.

It will be included in the purchase price 95% of the time.

The property owner retains full ownership of the property, including the title, control, and decision-making authority.

This property would have multiple income streams, including as an airbnb, wedding venue, bed and breakfast, corporate retreat. 

Of course, this question is best posed to an attorney. 

It would not be a terribly profitable industry, and a few large players (hopefully including my NewCo) would dominate the space.

Closing costs, including recording fees, transfer taxes and HOA transfer fees, if any5.