Yes, I am a property manager but even I use a 3rd party PM for my properties that are out of state.

No Sweat Equity: Repairs or maintenance must be done by third parties and paid for by the IRA.4.

For me the hardest part is wondering if they'll pay.

Closing CostsMake sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction.

You can legally change or cancel a contract if all parties agree. 

Syndicators advertise for people on Facebook and other sites because most cannot raise institutional money as to raise institutional money they need to have audited financials, a due diligence report done on them by 3rd party to start.

I have done 100s and 100s and 100s there, thousands of move in and outs best part I live in Fl my PM handles it all.

(Unfortunately, the investor fell for this gimmick and did NOT get their own 3rd party inspections, appraisals or even visit the properties they were buying, against our best efforts to encourage proper due diligence and follow our check list for their own protection.)So now some people are stuck with properties worth half what they paid (not all RWN members), with no renovation done, and constant repairs and vacancies. 

@Eric Helena, There is no statutory prohibition against purchasing from a related party to complete a 1031 exchange. 

Another example is that with a tax auction it is common for all the interested parties to not be notified 100% correctly meaning they could in theory come back later and try to reverse the sale and take the property back!