@John KiThere are plenty on BP and Twitter and LinkedIn that assist on reviewing sponsors.

Have you invested with a deal sponsor who does non accredited (506b) deals?

I'm looking for help finding a mid-term rental co-host agreement template.Backstory: I recently co-sponsored a 10 unit apartment syndication in San Antonio, TX.

So, if a “typical” transaction would require 20% down payment to go along with an 80% institutional loan, then if I brought in a couple of investors who funded 10% each and I as “sponsor” received a 33% ownership interest as “promote”, I would have used OPM for that 20% down payment. 

Before investing any money, I would make sure you get the answers to these questions as well as understand what the sponsors prior track record in investing in these types of properties is.Good luck!

Why do syndication sponsors go to all the trouble of working with LPs to incrementally raise funds? 

@Mike Iger, my distaste for pref equity stems more from the sponsor side.  

I am not sponsored.

@Kon Zel I have experience in commercial multifamily in Memphis: my first deal there was 80 units, and now co-sponsor in 1000+ units.

You might want to research syndications to invest safely (vet the sponsor) and learn a little.