Plus a brief explanation of how to obtain them.

Thanks @David M. for your explanation. 

The payment receipts are also in someones name that is not on the lease and when I asked for clarification, they sellers agent refused to get an explanation for me.

The payment receipts are also in someones name that is not on the lease and when I asked for clarification, they sellers agent refused to get an explanation for me.

Simple explanation is not every cares about CAP rate based on 25% down at 5% interest for 25 years.

Write the strategy(s) out on paper before going to steps 2 & 3 and try to condense and simplify the explanations of the strategy(s) as much as possible, 3-4 steps, focusing on the questions of "How is this creating value/cashflow?"

Awesome bird's eye view explanation to the world of Apartment syndication!

I also don't like how there are no projected returns or explanations of the equity.   

It's more involved than that, of course, but that is a simplified explanation. 

Joe, thank you for the great explanation!