@Evan Polaski outlined a good case for this above and I agree with what he wrote.  

A DSCR of 1.25 or higher is usually required.Property Appraisal: A professional appraisal to determine the property's value and income potential.Business Plan: Lenders may require a detailed business plan outlining your strategy for managing and profiting from the property.Experience: Demonstrating your experience with smaller multifamily properties can be beneficial.

At this point in my response I outlined what actual market rents were for similar properties.

Well typically speaking the arbitrager, but the real answer is the lease agreement will outline who is responsible and it is technically negotiable.

Typically, you’ll need a promissory note (outlining the loan terms, interest rate, repayment schedule, etc.) and either a deed of trust or mortgage to secure your interest in the property.

The contingencies are just as important-Did the agent write an outline of the email in the offer and tell you why they're a good agent to work with?

I have a brochure that outlines both the current financials and the value-ad opportunities.

(I've seen a lot of groups choose this structure) (See #1)4) Become a part of the issuer (GP-side) (Yes, this means you would take more an active role in the deal)TJ I agree with your number 1 I don't know any syndicators that will pay referral fee's as out lined by the OP.. he needs to be part of the management team is my thinking .. or the fund of funds idea.. that works. 

Generic online contracts or other one-size-fits-all documents can contain illegal provisions under state law that may cause legal and financial woeWisconsin Lease Laws In accordance with Section 704.44 of the Wisconsin Statutes, a residential lease can be considered void and unenforceable if it includes any of the ten invalid provisions outlined in the statute.

We typically outline specifically what we are doing, when it will occur.