They focus more on blending cap rate up passively over time and long term dirt value.Cash yield can be further down in the discussion.All I can tell you is I am so busy between buying my own deals, helping buyers buy NNN properties, and looking to syndicate as a sponsor some more retail value add deals.

Rarely can you go directly to the sponsor to invest. 

To cover that amount of money, some sponsors raise more capital.

I have been thinking of getting my real estate license, but one question I have is will I be able to find a brokerage to sponsor me if I am only focusing on doing my own deals?  

Some of the RE syndication do go south , every deal is not a homerun but the deal sponsors/partners are always the winners due to the acquisiton fee, asset mgt fee, asset disposal fee etc.

You could also ask if the sponsor will accept a lower investment amount.

.  We have put together syndications to buy multi-family assets and have also participated in syndications sponsored by other investors as a passive investor.

Finally, at least in PA, you have to be sponsored by a broker to get your license.

Having a successful brokerage business where you can act as an agent for the average deals and a sponsor for the great deals is probably a pretty good way to get started.  

There’s good news regarding your dream to open a Chicago area sober living home is that you would not be the first to do so, & there are literally hundreds of smaller mom & pop style SLH’s in the area that are currently operating & would be more than willing to help guide you through the process so you don’t have to go at it alone (now I sound like a sponsor), also there are numerous Federal, State, City, County, & private grants, benefits, & tax deductions you can receive to help you get started & operating.