So now you have three syndicated deals, one each per market, in three distant and distinct markets, right? 

The state has three distinct personalities (mountains, piedmont, and ocean), which limits the risk of having all of your eggs in one basket.

And that can be very different in different areas of the country and even within the same neighborhoods but in a different market segment. 

So long term I'm still bullish on NY/SF and other iconic cities.4) More importantly, ss RE investors we have to think about how it will impact our particular tenant segment.  

The upside in these projects is increased value in the eyes of retail buyers OR investors as it relates to cash flowAppreciation can take many forms (long run, forced via improvements, forced via improved management, etc.) and is a valid and viable business model that should be maintained as a separate and distinct business from owning and operating rentals.

Remodeling homes into something distinctive and desirable, like entertainment-centered properties, can definitely set you apart in the rental or short-term rental market.

For example, what if you decided to paint the interior dark green, which is largely unacceptable to the tenant segment normally attracted to your property?

So, you'd want to go into it knowing you were going to: go all out to beat your competition, have a distinctive property, stand out online, and have your return compensate you for the headache of running a little hospitality business.Does that help? 

It lists 20 questions you need to ask a property management company broken down into there segments from learning about them and their experience, learning about their systems and how they operate and finally a few to help you make that final decision on if they are a good fit.https://www.biggerpockets.com/...Best of luck!

This positive cash flow will provide a financial buffer and support your long-term investment goals.Multi-family (MFH) and single-family homes (SFH) are distinct asset classes with different characteristics.