Quote from @Gene Hacker: I share your concerns about investing in California because of their policies that benefit deadbeat tenants. 

Quote from @Gene Hacker: Welcome. 

So maybe that's stacking savings, maybe paying down debt, improving FICO, or maybe it's raising capital, whatever, the details don't matter because there is 101 flavors out there, all that matters is what is your 1-Thing NOW, do that, THAT alone, with fanatical focus like a fat-boy on cake!

Pigs get fat and happy, hogs get slaughtered. 

An institutional investor with a history of working with syndications in these kinds of deals is going to have a much better handle on fair and realistic fees the syndicator should be collecting for those services versus a bunch of lps that may be working on the first syndication deal and frankly glosses right over those issues when they see 15% annual returns and a nice fat cash bonus on the planned exit.

Quote from @Gene Paniccia: I recently purchased a property in Cleveland.

There is an old saying ( Pigs get fat.

You might also want to pick up the book It's a Whole New Business by Gene Trowbridge, which goes over a lot of the syndication terminology and details.

@Gene BattleCheck with your accountant for a recommendation or ask for recommendations from your local real estate investors association.

My gut is already too fat, so I hate to heap more responsibility on it.