Make sure the numbers work and you wouldn’t be better of selling and taking the gain.

The best benefit of syndications is the passive nature and the amount of information you can gather.

That said, if you can gain some basic knowledge and take away a few good nuggets from a course as a newbie, then it could be a good starting point (of course the best starting point is doing what you are doing here, engaging the BP community).

Recording affidavits and death certificates: $100 [ I gained the property by rights of survivorship and the past owner died but we need to update the title]My Questions:1.

Also, the rental was 1031, so I would have to pay taxes and cap gains right?

Upon selling it you exchange to a like property to defer the long term capital gain.

So, this is putting him in the position to have to look at the possibility of doing a 1031 exchange on the 2.5 - 3.0 million that would otherwise be taxed at capital gain rates (he wants to avoid paying Uncle Sam at all costs).

     @Bob Gruenig, what @Chris Tracy may be trying to point out is that if you are creating a LLC and bringing in other passive investors into that LLC, your LLC may be subject to securities law.The easier option would be to let each individual come into the syndication's LLC directly. 

I'm now taking out cash and funding the rest of the fix up, as well as going to gain significant cash flow.

When you donate appreciated securities that you have held for more than one year, you can avoid paying capital gains tax on the appreciation.