For example, a real estate syndication project that generates passive losses year one could do this.

is this your first ever project? 

Of course, it's just added to my analysis paralysis! 

You do get to make more decisions, like which PM to use, how to finance, whether you do the capex project or continue to defer, but that is all work you are doing, which may or may not be too much.Owning direct locally: well, you live in one of the highest cost of living areas.  

The key is to work with one who is incredibly strong on the real estate analysis side. 

We've decided to scale back on acquisitions and have started scouting out talent to add to our team to be better prepared for what's to come.While we believe we could greatly benefit from bringing on an Integrator, project manager, and construction manager as soon as possible, we are looking at cost/benefit for our first hire.

what the actual project is you are buying and its purchase price 

It is always wise to have some additional capital on the sidelines to help advance your projects rather than relying solely on the bank draws but one month is beyond reasonable.

I suspect as rates continue to decrease terms will begin to improve and more buyers will re-enter the market/ be able to pull trapped equity out of their recently completed projects.

One question is, I didn't do comprehensive analysis of national wide, so not sure if Overland Park is a good place to start with.