I've built a $18M RE portfolio without ever having to do a syndication.I hope I answered your question properly!

If an asset is throwing off a certain yield that is not commiserate with it's risk, then investors will then begin paying more for that asset, thus decreasing it's yield....or start paying less for the asset which would increase it's yield, until it was at the proper risk/return rate to produce the yield that is truly reflective of it's risk.The problem is novice real estate investors get the risk/reward correlation backwards.

It’s so comprehensive that I’m compelled to give you a great answer, but there is so much to unpack that a full proper answer to every question may take longer than I have tonight.

So, I had to put zeroes in to maintain the proper format.There's the first two 10-month "chunks".

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If P&Ls were manipulated or tenant histories weren’t properly vetted, that’s a serious issue and could form the basis of a strong misrepresentation claim.

There are just so many existing pipeline right-of-ways that you cannot physically find an undisturbed site big enough to be worth it near Midland proper. 

HOA violations are only grounds for evictions if you your lease requires them to meet HOA regulations, you have properly notified them of the violation, and they have neglected to resolve the issue.

This is something I would have to dig into your background on to properly advise on which asset class might be better for you and also how much management intensity you desire and/or can handle.3.)

Be mindful of this, and make sure you ask all the proper questions before you jump ship.