I'm fairly new to to posting on here, could someone tag any tax experts?

(would it be a surprise if you find out subletting is allowed later)Can you review their initial applications and background verification if any? 

That will allow you to build up a network of contractors and suppliers that will enable to to address problems faster and more cost effectively.I would also recommend buying a home warranty program if you are planning to hold the property and make upgrades over time. 

In one breathe you do not want to be a sponsor or managing member but in another you are not wanting to be a passive investor in a larger syndicate.It sounds like you do not want to to work for the yield a sponsor gets but want more return than a passive investor gets as standard investing in a syndicate.Sounds like you are looking more for a joint venture arrangement.Brian Burke is out that way and a member on here and he does large multifamily syndicates.

@Jonathan Jewell The syndication attorney has to form the new entity and draft the company operating agreement with the specifics on how the profits and losses will be allocated, draft the private placement memorandum (a massive, highly detailed and complex document), file the exemption documents with the SEC and the state securities board, draft the subscription agreement for the investors to put their money in, draft the investor questionnaire, review the verifications of accredited investors, etc.

-any income from the rental over the interest and property tax would be considered ordinary income-you are able to to write off the depreciation of the real estate property over 27.5 years for the units you are renting and maybe the one you occupy as well.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.

Background check/credit check, rental verification, income verification.

Go with a commercial, no income verification loan.Stephanie