They also act as a very significant and very important risk and privacy buffer over and above the work component.

If your company does a match, that is also an instant boost to your starting capitalization.If your plan offers a Roth component, you should seriously look at that. 

Jason basically there are about 3 different types of syndicate deals.Stabilized properties with no upside but regular rental increases.Properties with some income but some upside to fill up.Properties that have a larger value add component with typically more equity growth but not much cash flow the first few years as a pref to investors.There are some investors that want the money TODAY so more of the stabilized properties.

@Matt Michaelson - loan payment is not a component of Cap Rate.

Arguments for a 30 year loan: (1) You lock in your fixed payment in "2018 dollars" for the next three decades, when that $700 will be worth a lot less (Jason Hartman calls it "inflation-induced debt destruction")(2)  Since your payments are lower, you have increased cash flow that can be used to deploy capital into new projects(3)  If unexpected expenses arise (personal or business), you have an immediate source of regular cash flowArguments for a 15 year loan:(1) increased equity over a shorter time horizon(2) cheaper interest rate(3) owning property "free and clear" still in your prime years and the lifting of psychological burden of debtIt really depends on your personal strategy and where you want to place your risk. 

There is much more of a business component in this type of investment. 

@Anthony ThompsonHi,-I estimated 3k for any unexpected repairs that were not accounted for.

And some unexpected costs (e.g. had to replace a lot of doors I didn't think about).

There are always unexpected delays.

The only reason I say this is because even if you base your profit based on the MOST conservative numbers, there are always some sort of unexpected incidents that will arise throughout the process, and there needs to be some sort of reserve capital set aside for that.