Tax credit syndication is not my area of experience or expertise, so hopefully a tax credit syndication expert will chime in.Most of the syndicators you'll see on BP, podcasts, YouTube, etc will be doing the first type, where they raise capital from passive investors to acquire or develop real estate.Some developers use syndication to raise equity, others have the capital on their own, I know some who use JVs - so the answer is it varies/it depends!

In order to understand the area and the market, you need to consult with experts in your area so you can make an educated decision.

I leased up a software professional from Lake Murray (affluent) to City Heights (blue-collar) area - people are going where the rents are lower and we're seeing more socio-economic diversity in the lower-priced/blue-collar area.

What that says is there is no economic growth there, high school grads are moving out, the school population hasn't grown in 56 years and the general population hasn't grown in 56 years. 

The southern I-95 corridor includes Robeson and Bladen counties and are some of the poorest Tier 1 economically distressed counties in NC. 

What are the economic drivers -- who are the employers?

The real estate market here in NC, specifically the N. Charlotte area, has been going absolutely nuts for the last few years. Wondering when the train ride will end...or if we should just ride it until the rails fall ...

I'm far from an expert, but the main one I'd look at is ROI.

.• Despite the slowing economy due to the pandemic, the Georgia Department of Economic Development generated $632 million in company relocations and expansions in 2020, which bodes well for future activity.• Atlanta’s higher-wage jobs — $60,000 per year or more — increased since the by 3.0% in 2020, a positive trend as 2021 begins.Multifamily• Despite uncertainty in 2020, Atlanta’s multifamily sector has remained strong, with overall vacancy just north of 5.0%.

@Marv Edelstein I am not an expert; most/many people in Wa state are MTM including my tenants.