Unless you are building Rental units, the SF Retail market construction market is not doing well, hopefully your builder is borrowing money at sub 10% interest rates.  4 years ago, a lot of builders were only factoring in 3% for total loan costs, I would think that the carry costs would be 10% or more currently.  3.

Of course, there are several factors that play into this:How much money do you actually have to put into the deal?  

You also need to factor in other expenses like repairs & maintenance and capital expenses like replacing roofs and ACs, etc.  

Factor in how much principle they would have paid off the loan and subtract that from the current market value of the home. 

Are they doing everything possible to expose properties to the broadest possible market?

It is an important factor to consider.

A simpler and more effective strategy is to understand the tax implications and plan accordingly, possibly by working with a CPA who can review the specific syndication's operating agreement.While UDFI is a factor to consider, it shouldn't be a deterrent to investing your retirement funds in real estate syndications.

I can't see getting financing better than 70% and if there is a lack of experience at this many units or other factors are not perfect then you'll need to lay out 35% - 40% and that's even if you can get it done plus it will take a long time to close. 

The cost of changing a light bulb is quite a bit more when you factor in travel time to get across town, vehicle cost, a qualified person on payroll with benefits, overhead cost for the office to deploy that person.

There is nothing that exists that will completely insulate your rental property from complete liability, because the minute it is rented, you are exposing yourself to liability.