I've been contemplating buying a new property that I could rent out.

In other words they may go from contemplation to preparation back to contemplation.

EXPERIENCEHow long have the principals been investing in real estate, and more specifically, in the type of real estate that is being contemplated for syndication?

It seems that you are contemplating great options and terms like the 2% rule, but you have to know that not even savvy investors are achieving this around the US and def. not in California. based on some answers you gave above: you said you don't know anything about rehabbing, managing a property, etc Learn more about this: read the books, go to the meet ups, network. 

Sellers now are in a tough position where they would ; 1) obviously move forward with deal and close of escrow as planned sooner.2) wiling to work with buyers but don't want them to back-out at the end of due diligence period without any compensation for loss of opportunity.3) Seller are contemplating to ask for a non-refundable deposit from buyers if they choose to cancel the deal and walk away at the end of the (90) days extension.4) what is fair and reasonable under these circumstances as I don't want to risk the buyer canceling the deal completely, but also don't want the seller end up with absolutely nothing? 

Much to contemplate!

We still contemplate going at it ourselves as a backup plan (always have contingencies).

So, I'm still trying to get my first property and this time around I'm contemplating this triplex in El Cajon which sits on a large lot.

I'm contemplating between an Agent, a property manager, or carpenter through a local union.Thanks in advance for the advice and happy investing to you all!

I know it is tempting - I contemplated it at one point myself.