I think the decision comes down to what makes most sense for all parties involved.

A little background about me, I have just over 200 doors in my current portfolio and our company manages just over 250 doors for third party investors in addition to those. 

You may want to check out state & local laws about 3rd party property management and confirm you can comply.Regarding what to do, check out all the materials BiggerPockets has under the Manage Properties tab! 

If you have proven you can take private Money at 12% - 14% and use it to make a 25% - 40% return then it's a no brainer for all parties involved and if listening to three podcasts, reading four books, and paying 10k to join a mastermind was the recipe then the line of ppl wanting to do it would stretch around the globe.If you are doing a fix n flip right now and it's a failure and you either lose, get stuck in it, or breakeven - the chances of the determinate factor being the lending is tiny.How do fix n flips go bad....?

And we discontinued the full service breakfast in favor of a grab-and-go breakfast bar in the foyer. 

I asked about 3rd party accounting.His response was it'll take 6-8 weeks at least for them to come up with a plan but the conversion to shares is permanent.

I would love for you to try out, it free.And the best part is, I am the developer, you can directly ask me to incorporate any features that can be useful.Link: https://apps.apple.com/us/app/sparrowlane/id6741719361

In IL sellers are not required to share the report, but they're not barred from it either. 

Quote from @Paul Azad: Real Estate math is annoyingly confusing as syndicators like to use all sorts of different numbers from MOICs to IRRs to AAR-average annual returns to anything else they can come up with to beneficially inflate their numbers for marketing purposes and to avoid the only metric used when investing in all other asset classes, the CAGR- compound annual growth rate, but it's easy to convert, like pounds to kilograms.Here you have 100% in 5 years or 20% AAR, or 2.0 MOIC, you take the MOIC or add 100 to the total return 100%+100% = 200% = 2.0, then you do an exponential equation (x to the Y) with x=2.0 and Y= 1/time in years, so 2 to the 0.2 which is 14.87% that's your CAGR {calculator will have an x to the y button for ease, 2 x/y .2}for example, sp500 just returned 254% over last 10 years, so add 100 so MOIC = 3.54, then to the 0.1 for 1/10 years and CAGR is 13.47%now you can compare returns from syndications to buying VOO or QQQ etc We had a third party track record verification report done and the company who does these (do them alot for mutual funds etc) was asking some of the most basic questions that I thought were no brainers - so I asked - "what are the other ways to calculate these things"?

Quote from @Greg Gallucci: For the most part I suggest not buying new builds to rent for a number of reasons.#1.