I cant recall the exact name it was something like a zero coupon bond.. and the setting we used it in was a new townhouse project that I was the broker on and it was not selling and the owner came up with this.. 

4) Finally set up a call only because I was shopping for a particular type of loan they claimed to have.

Just need to set expectations for what you're actually getting in return, a small condo is not going to be life changing wealth.

At the end, you will file for a Certificate of Occupancy and you'll be all set.

Also set a line of communication.

That is the problem with Syndications, you have no control over the Syndicator, who may suddenly need cash for some other mistake he needs, and he sets out to create mischief.  

I feet that would be much better than setting the both of you up for failure.

WE generally sold our notes after a few months of seasoning. note buyers for land in those days wanted 20% returns at least.. so it became a function of running PV's as to how we would set the terms..

FSBO, expired leads, local homeowners)- Nurture your network consistently via phone, email, text, in-person events- Set as many appointments as you can to get in front of people and explain your value proposition... then go back to nurturing the contact until they have a question or need something from you- While doing all of the above, try to avoid/ignore the 'shiny objects' that are sold to agents on a daily basis. 

If you're dead-set on OOS REI, then I'd suggest studying up on the books, articles, forum posts, videos, etc. on the subject, and talking with as many OOS investors as possible (ESPECIALLY inexperienced investors who tried OOS REI for one of their first deals).