The syndicator’s success (and thus the investor’s success) is accomplished over the years that they are operating the property, not in the weeks they spent buying it (although if that part isn’t done right you already driving north in the southbound lane).For more on vetting syndicators, check out this recent thread that ruffled up some good discussion and advice.  

I worked on Oil Tankers and we had a Chief Engineer 40 years ago, who would give his Agent $5000 to buy one more Rental House in Seattle when he got off each ship.

People who work uptown/downtown, want a nicer home, but don't want the Southbound I-75 commute (which as you know is awful)2.

Also RE does not suddenly crash, it takes months and years for the trend to change; its slow like an oil tanker, the 2008 crash was very visible in the market data 2 years prior.I don't follow the stock market close enough to comment, but we are not going to see a RE crash any time soon, at least not in the midwest, if anything we may see things slow down at some point, which would be good - what I believe we will see (I am already seeing it in my biz) is a new wave of economic and climate related migration within the US, based on the fact that remote working is allowing people to move from fires, droughts and exuberant real estate prices to the states that are much more attractive - I am getting several calls a week now from people moving to Milwaukee, usually from the states out west, but also from down south.