It's not cheap though, but if you have a lot of properties, it would be something worth looking into.

If an appraiser says it’s worth $400k, then that’s all you should pay.

“All this to hopefully cashflow a few hundred $$ a month, doesn’t seem worth it.” 

You're absolutely right—positive cash flow from rentals can vary significantly depending on factors like property costs, financing, and the ever changing market conditions.For real estate the challenge isn't just accumulating properties but creating a framework that builds net worth more strategically and sustainably.Cash Flow can be generated in many ways, my intention was to better understand the investor mindset and their approach, if they wanted to share.Based on your example, if using conservative calculations at $100K/door, you would pay $20M for access to $40K/month. 

However, they also come with a significant upfront investment.Before I commit to anything, I’d love to hear from those with experience:Are these programs worth the investment?

Here is a mistake / aha moment: cost segregation studies are worth it, even for a portfolio of  smaller properties!

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Also, if the sponsor is new, I am fine with less skin in the game as long as it is significant to their net worth.

If multifamily properties in your area are priced well, it might be worth moving forward sooner rather than later.Risk Tolerance: Since you’re the sole provider, it’s crucial to ensure you have a solid emergency fund to cover unforeseen expenses, especially during vacancies or repairs.Long-Term Goals: Think about how this investment fits into your long-term financial goals.

It's worth taking the time to understand what you're doing so you can develop your own conviction and confidence.