The previous poster mentioned issues with associations fees, etc....yes, this is never made clear.

Legal contracts created by REALTOR associations are copyrighted and only for REALTOR member use.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

All the rehab and repairs associated with it are done by professionals. 

-What are the risks associated with a multifamily real estate syndication?

Most business credit cards do not report on your personal credit report so often times any debt associated with the business credit card will not impact your debt to income ratio. 

I'd suggest starting by joining your local Real Estate Investor Association and attending any real estate meet-ups in your area.

Being new to this biz, there is a lot of fear and trepidations associated with the "right" deal and a network of lenders, agents, contractors you can trust.My strategy at this point is 1, put my money to work for me, move my money into a real estate/ self directed IRA and then work into the fix and flip side of the business. 

We mow our own lawn and the parking lot is usually plowed by the association that owns it.

Calculate total associated costs including taxes, fees and legal expenses.