If you are getting a loan from one entity, you do not really need to be discussing it with a syndication attorney but any loan docs and agreements you should have an attorney review.The people who would need the attorney are the people forming the LLC as they are each pooling funds and would need to determine who is in control of the entity, what if someone wants out of that entity etc.

I personally wouldn't recommend condos because you don't have a lot of control over the HOA, which is an unknown variable in terms of cost.

Like I think I heard an add for VRBO today saying that exact thing on that old device we call a radio..

I'm in miami dade county as a focus area only if you consider ground up but I'd pass on auctions because they are sight unseen most the time and it's all cash purchases typically. you have no control. in land development and real estate development you have full control of every part of the process. don't buy something 50 years old or 100 years old. 

Quote from @Jason Watson: I'd make the Activity be a dropdown... control the narrative.

They should always be under control of the owner, not allowed to roam free, not allowed to bark, can't destroy the property, etc.

But my second answer is that if you are able to “go it alone” from a directional control perspective you will be much happier, and can operate lean where there is no counter arguments to be had with a partner.  

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

You just can't sign agreement where the property manager controls when you can and can't use the property.4. 

Why would I have them hold my money when I can have full control over it if they transfer it over to my accounts in 1-3 business days.