I was not familiar with Vantage Horizon, but am very familiar with syndications. 

Multifamilies / commercial have higher interest rates so one can't compare it to your buddy's screaming hot deal for his home.You could pay points to lessen the interest (1 point = 1% of the loan), but the break even I was hearing for my situation was a 5 - 7 year time horizon. 

Investing in the S&P Index 500 I would expect an average return of 11%/year over the long term horizon. 20% cash and money market : $200,000 Cash is king when we are headed into a deflationary market environment.

@Nathan Mailly @Ian Ippolito is absolutey right about the time horizon (my apologies for not noting that in your reply earlier).

I am looking to expand my horizons by developing a strong real estate holdings portfolio that generates positive cash flow and maintains steady value appreciation.

But there is something on the horizon for all real estate service providers:  technology will be your competition in the future. 

It's hard to tell, but it seems possible.So while there are certainly risks in the multifamily sector, my opinion, for what it's worth, is that that there isn't a major storm brewing on the horizon. 

In fact a couple weeks ago, I figured out the Costanza trifecta, I worked out on the elliptical machine while playing Forza Horizon 4 racing while listening to real estate podcasts. 

The time horizon for any impactful money won't happen until 10-12yrs into it.  

No doubt a test case in on the horizon