While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

As long as you're making payments on time and have proper insurance on the property, banks are happy and don't want to call a loan due. 

Thanks James for the proper terminology.

Some buyers don't want your tenants who may or may not have been screen properly but some buyers like the attraction of having income on day one. 

Additionally the suburbs have higher taxes compared to Chicago proper.  

There are three items required to make a successful partnership - Time, Experience, Capital.If you are a syndicator, you are likely expected to have time and experience.There is a lot that goes into being a competent syndicator - Proper communications, finding a good deal, communicating quarterly updates, networking with lenders, contractors, PM companies.You can gain experience by doing your own deals or working for someone who does(Ideally both).I personally think you should cement your experience before worrying about OPM.Best of luck

Take ownership of your mistake and learn to do the proper due diligence recommended above😊 

Pro: In a conventional banking system, you have to trust people to handle your money properly along the way.

I have zero stress having the systems in place with the proper people in place to manage my day to day operations.

It has to be handled in the proper way.