@Deandre BrownIt depends where you are in the market cycle.

Not to say this is bad, but depending on where a company is in their lifecycle, there are groups that can raise $10+mm and have never gone full cycle in a deal, thereby making it challenging to have $1mm of liquid capital available.Timing of closing: again, many larger check investors have multiple sign-offs.  

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

Most haven't taken their properties acquired through the BRRRR method full cycle and gone through the sale process you are experiencing.

Something like 10 year cycles.

As we all know, the sales cycle.. better yet the cash conversion cycle in Real Estate Investing is quite long.

The next phase of my maturation cycle is gaining "on the job experience" in the form of GP participation before attempting to take down a deal by myself. 

Understand the Market CycleEvery economy and market experience cycles: expansion, peak, contraction, and recovery.

And there are sponsors that have survived multiple cycles with little to no money lost and sponsors that are brand-new (and everyone in between)So these all come with a wide range of projected returns, actual returns and experiences.

The Sponsor: Track record, their experience in the asset, their assembled team, any full cycle deals.