I have not been through an 08' situation, but I can say in confidence you want $10-15k in reserves PER door if you want survive an economic downfall.

Cincinnati (and Northern KY) are booming real estate economies - cheap property, a lot of economic and population growth.

Plus many of these midwestern states do not have as much economic impact as the densely populated costal states where we do not invest.  

I have a once triplex converted to a duplex that I’m turning back into a triplex . hope that didn’t get too confusing.So I’m trying to figure out the best way to supply all 3 units with sufficient hot water in the most economical way of course.

None of which are indicative of a GP's ability to execute on a syndication with or without economic headwinds or tailwinds for that matter.

National and local economic factors can definitely impact real estate. 

Don't know anything about them but per my calculations they are taking 27.2% of the capital appreciation on the New Braunfels deal at the end per their projections which seem optimistic in this oversupplied environment, (Austin MSA with largest new multi-family projects coming out this year in the country ,8% of total existing stock and already seeing rent rate declines of near 10%in the city so far) and they are taking a big chunk of the monthly cash on cash as the preferred payouts for their 3 different classes are well below the projected cash on cash total.

I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.

About inflated prices and high interest rates...I've bought my best performing properties during the worst economic cycles. 

Having the knowledge is one thing, but only experience will enable a Syndication Team to persevere through harsh economic cycles.