An institutional investor with a history of working with syndications in these kinds of deals is going to have a much better handle on fair and realistic fees the syndicator should be collecting for those services versus a bunch of lps that may be working on the first syndication deal and frankly glosses right over those issues when they see 15% annual returns and a nice fat cash bonus on the planned exit.

There is an old saying ( Pigs get fat.

If the manufacturer went belly up, I was going to be out all my money?

My gut is already too fat, so I hate to heap more responsibility on it. 

@Evan Bell I can't get excited about business plans.  

Had 1) an assignment or 2) an entity acquisition been possible rather than a (fat) double-close, this would now be the end buyer's problem. 

Hi Jaden,I'm not a fan of hybrid turnkey models like the companies you mention.Also, not a fan of many turnkey marketing companies.Granted, I'm bias but if anyone is interested in turnkey just go straight to the provider.Not many around these days anymore and the one's that are, have stood the test of time and are obviously solid.I think it's less riskier nowadays to invest in turnkey properties than before because all of the poor providers have disappeared and only the good one's are still around.Plus, seems like the "hands off" and so beloved syndications are going belly up so turnkey might be in fashion again.And no big deal IMO that turnkey is not completely "hands off".Is anything completely passive other than 30yr Treasury Bonds?

The tenant's mention of a lawsuit is typically an empty threat.As someone that's dealt with plenty of mold and mold claims, this one looks like a fat nothing burger.

Very rarely, those cases happen due to some fat tails event-- recession, war, pandemic, etc.

Audit expenses and cut the fat.