I'm new to taking action with REI and am willing to step forward, fail, learn from failure, and progress that much faster.Edit: Also, if anyone has any recommendations to make the deal analysis more efficient, I'm all ears.

So please, use an attorney at all times, regardless of the friendship or referrals. 3) Communication Is Important - When taking on a property manager, ensure that they will communicate.

I keep hearing and reading that your monthly rent should be 1% of the purchase price to ensure that the property cash flows.   

It's cheaper, more efficient, and leaves a smaller footprint.

This is not a wide-spread practice, but I think its worthwhile to research this and ensure yourself that you will not be stuck with the tenant's electric bill.

What is the most efficient way to collect rent?

Paying a PM for a single property in another state or city (more than one hour away from you personal residence) won't make financial sense and will eat up cash flow, and many PM's have to be watched over carefully to ensure they're doing their jobs. 

On top of that I work a fairly demanding W2 and wouldn't have been able to efficiently manage a bunch of subs.

As I'm starting my journey into apartment syndication, I'm realizing the most time efficient way to scale is through partnerships.

I have a solid team in place and structure deals to ensure the investor starts with double digit returns that grow annually.