Get a precise and detailed list of where expenses will go.

Bottom line being that I bought them with a negative cash flow and with a tremendous amount of equity, but I had a very precise exit strategy in cashing out my equity before the negative cash flow ate my lunch.

If you are ready to take on this business, get a good attorney and CPA to help you with deal structure, entity type selection, and drafting operating agreements, private placement memorandums, and subscription agreements.

My primary time commitment as a passive investor is in reviewing (and sometimes influencing change to) private placement memorandums.    

I haven't chosen what precise direction but I'll keep posting!  

Look for opportunities, maybe partnerships, etc.Your question was too board that I think you need to know precisely what you want to do.Real estate investing takes different forms for different people.For some, it is buying single family houses to rent out.

@Paul D.I wonder if you have confused private financing {from families or friends) which is suitable for smaller residential (1-4 unit) properties, with syndication which is would not be the vehicle of choice to finance a duplex or another small property.Given the amount of overhead incurred to setting-up a syndication (or a private equity placement), you need a property/deal of adequate size to absorb these costs and still provide sufficient upside to ensure your investors and, hopefully, you earn a satisfactory return on your investment.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Different guest types (travel nurses, digital nomads, construction workers, insurance placements) are looking for different types of properties.