However, we typically use the FHA-203k loan because it involves a renovation, which I highly recommend if you are looking to really boost your equity and have the cost of the renovation wrapped into your loan with a VERY LOW AMOUNT OUT OF POCKET.I like the FHA loan, but honestly, the Fannie May Home Style is an even better product at this point because you just have to bring a bit more cash to the table 5% vs. 3.5% (w/ FHA), but you have a bit more flexibility.  

I have been involved with a few of these projects in different areas of the country and each one I have worked with has been a great success.  

They should have a process for this that will likely involve probate.

Like anything involving holding of funds, your client should do his own due diligence and you should refer several to him if you are going to refer any.

Statement:I'm 1 of dozens of partners involved in a transaction at any given time.

For instance, if I buy a house 20% down, 5% closing prep costs where the rent matches the mortgage, interest and tax and assume a 5% rent growth and appreciation, I'm expecting an 11% total return which is just not good enough for the hassle involved. 

In the case of my 16 unit there were no realtors involved.

Your overall experience investing in a syndication involves much more than the yield you could achieve.

Many states have non-judicial options where if the contract allows for it(most contracts do) then no court involvement is required to foreclose the property.

Aligning Investors With the Mission:I understand the skepticism about involving investors in a mission-driven project.