Real estate syndications are a great way to earn solid returns while not having to actively do anything.

It's probably one of the better areas in which to buy more recent construction rentals if you have a reasonable return expectation.

I have an opportunity to purchase 2 multi family apartment buildings. 12 unit with 9% cap rate, $400K and ~$110 per door monthly cash8 unit with 10% cap rate, $300K and ~$110 per door monthly cashSeems to be after all cost a ~3% return on debt investment.

If you can sell the house now and make a profit then the annualized return will be much better than holding the deal for over a year.Also - getting a loan is going to cost you money in closing and fees.

My cash on cash return (20% down if financing the purchase) would be around 25%.

If I can't make at least 10% annual cash on cash return I won't purchase.

But, even though they are under same LLC, they will be reported under different schedule or part of the return, so it's not a big deal from the tax preparation perspective.

But that shouldn't really affect your ultimate returns in any meaningful manner even if you use IRR method.  

The rest gets returned.

All units electric individually metered with all other utilities being sub-net split between residences makes for higher returns.