I want to invest with a 10-yr horizon in mind, understanding holding an asset that appreciates, while someone else pays down your mortgage, but that is if you at least break even!

Its better to buy assets that will appreciate ( historic ) and be break even or a little negative. 

Finally the probate case was heard, the “inheritor” obtained ownership, and we foreclosed.  

James , it is not particular syndication, it is the whole asset class.

I then poured another $8M into it to bring it back to its former glory by selling every asset I own. 

Will add though, that a good PMC will immediately alert an owner about what their property really is and the expected challenges.Unfortunately, a decent portion of the time we do this, owners either don't want to believe the Evaluation Video we send them or decide to sell.realistic expectations of performance through different asset class's is key to happiness  

Proceeds could be reinvested in better-performing assets across multiple doors.Our goal is to build appreciation over cash flow, acquiring 1-4 doors/year to allow my wife to retire by 50.

I do suggest putting the asset in the app ASAP to lower the audit risk.You can meet Substantially all participation tests (test no 2).

@Marci S.This will be challenging as most lenders will lend on an asset.

@Ryan Daulton, as you can probably tell from the replies, "having a partner" means different things to different people.Like Nathan noted, entering into any type of partnership, where there is communal ownership of an asset, is a lot like finding a spouse.