Real estate is one of the best mind-sharpening exercises in the investment world simply because getting it wrong there is no stock liquidation or quick way out.

The wholesaler had no idea.

. - there is no absolute answer to your question. 

I have tried the BP lead generation over the last year or so with no luck. 

Investors allow them to help because they are local but the truth is that they have no idea how to manage a rehab.

I also have some capital to contribute.Could someone explain how syndications are typically structured, and how are people using Other People's Money (OPM) to build large portfolios with little to no money down?

Ideally, you want something in writing, but that is probably unlikely since no one will want to stand behind a not-yet-final number.

Well I must have an AWESOME local agent because I have no complaints at all and have used them for years.  

There’s no such thing.  

If they fail to pay, then you can choose to try eviction or just hold the charges until the end of their lease and collect it from their deposit.