If you need 10 minimum and have to hold those non-paying tenants until you get 10, what does that cost you in your financial model?

@Dave AllenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Matthew Beninate Relay Financial is who I use.

I will add having paid off properties even though cash flows more really does not make financial sense.

I dealt with evictions, unexpected repairs, and the ups and downs of tenant relationships—but I also made huge strides in improving the property’s value and financial performance.

Nicholas, When vetting a syndication, every investor will do it differently because every investor has a different risk tolerance, comes from a different financial situation and has different financial goals.

Without having much info, I would need to know the financial situation of the 'close family' to determine a best approach.

An example in my experience would be a local/regional foundation with a mission that is aligned directly or indirectly with Affordable Housing AND a longer-term investment horizon with less of a focus on the financial return and more on the "social" return for the community.

Condition, pictures, any financials they can provide.  

Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home I do want to also add that my banker who is the VP of lending and branch manager has been banking me for 30 years..WE have been through all he ups and downs including the GFC were I got almost totally wiped out financially..