Stewart, GA as I recover from surgery after my recent deployment.

I know that as real estate investors, we find it hard to have cash just "sitting" there when it could be deployed to another deal, but think about how much financial damage your 10-year plan would take by an unforeseen emergency like getting laid off or a lawsuit from one of your renters. 

I suggest holding onto it if you think you will need to re-deploy it into another rental so it is liquid and there when you need it.  

I have heard from large funds before they have to deploy capital stacking up or the investors will go elsewhere.

I am currently deployed, and very close to being finished with the deployment as well as with my contract (only a year left).

Any funds received in a Capital Call that are not deployed in the purchase of a Property (“Non-DeployedFunds”) shall not accrue the Preferred Return, but rather, shall bear interest at a rate of 2% per annum non-compounding,accruing from the date of when funds are deployed (“Deployed Funds”) from such Capital Call until such time as theCompany deploys the Non-Deployed Funds into a subsequent Property.

@Arda Bircan if you intend to self-manage then I agree that the ratio of debt pay down vs cash flow changes as you have more capital to deploy.

I am about to go on my first deployment and where I will be going will be tax free.

Reason being the "brand" of a syndication IS the syndicator, the product is the syndicators mastery of correctly and best deploying that capital, and that syndicator must bring in capital to deploy which brings us back to the beginning of, marketing, making oneself the "Guru". 

That capital can be deployed in so many other asset classes.