Fast solutions have slow problems, tie yourself up in getting cute and the reward is you get a property and risk is you lose it all.

Better to own a few quality properties than a bunch of crapboxes that end up damaged and vacant and eventually lose money.

The agreements I've seen basically say you are guaranteed nothing, you could lose all your money, you might not be paid on time or ever, you can't rely on any representation made by the GP, you have no control over the operation and other terms and disclaimers to that effect.

Yes, I know I will lose some of the tax benefits by doing so; but owning something out right sounds appealing to me. 

Request repair requests in written form even though they may mention in passing and you are next door just so you don't lose track of things.

They lose deals unfortunately when they are transparent  A lot of people are stupid.

That's how it's done.....If a Contractor loses their License, Insurance or Bond, they can't legally work and they all know it.

I've seen cases where the LP backed out of the deal at the last minute, not only leaving the operator at the closing table without the capital, but causing the sponsor to lose their earnest money deposit. 

Make sure your first property has no long-term cap ex coming like roofs, furnaces, sewer, etc so you know you won't get a 10k bill when you buy another one and lose profit on all across the board.

Love it.big issue for me is you lose all control when you go into a syndication..