You can make very high returns flipping houses but it takes a lot of time and learning.I generally find that investments I do personally have higher returns because I have total control and no one else is participating in the profits.

I know the refi and disposition fees when broken up between all participants seems small, but it is large dollars for sure.

Find some equitable way to participate in a deal, so that you both have skin in the game. 

I have participated in 1 flip and one rehab for a rental with my father in the past.

You also have the added burden of Self Employment Taxes if you are actively participating in the business.In my opinion, you've jumped into a business without understanding a lot of the administrative aspects of it. 

You might want to contact some providers who participate on these forums to learn more about your options.

Unless you're working with someone you trust (via personal network/relationship) I would encourage you to underwrite more deals before participating in one.

Also love participating with my local friends!

What about those who participate in that syndication, aside from the fact that their involvement is much more passive in nature.

We make a better return than we would as just being a PM for them and participate in the equity growth.