There's nothing wrong with that and It's often impossible to jump from the lower tier properties to more expensive real estate after the first round trip because most fail to make a profit.

I certainly could be wrong about that :).

There's  nothing wrong with investing in syndications if you are writing smaller checks but perhaps invest with the syndicator who is chasing your checks because you are the only option, not the preferred option.

I've had more folks than you think in your same position who look to cut cost with the wrong professionals and then regret it.

You won't have to pay tax and recapture of depreciation.But still, for cashout refi you still have to pay interest to take out the proceeds and also pay closing costs.Can anyone educate me if I am getting this wrong?

There’s potential liability if something goes wrong or even tension between you and the seller.

You've been sold the wrong groceries here.

You seem to be focused on the wrong party.

If you are wrong, you might have to sell for a price below market rate.

They look good on paper, but there are a lot of things that can go wrong.