Also I would recommend joining CrowdStreet or Realty Shares and listen to the Webinars for multi-family sponsors. 

One of my friends that has been doing commercial retail for over 40 years owns 6 million sq ft himself as a sponsor and property manages 15 million sq ft.So when investors are looking to invest with me it is more about my 15 years in the business and understanding the retail space and all of it's nuances.

Go to your local REIAs and find out who the people are that are paid sponsors.

These metrics are reflected on a project level as well as performance for to the project sponsor and investors on a pre and post tax basis.Let me know if you have interest or need for such a tool.Best Regards and good luck in your real estate activities.

After reading about the requirements for earning this license, I'm still a little confused about the requirement to be sponsored by a licensed designated broker.If I am working alone, not joining a firm, does that mean I need to form a legal entity and then file to endorse myself as the firm's designated broker?

But everything I've ever seen on them is from larger, experienced sponsors.

It's hard enough as it is to put larger deals and capital together let alone limiting that to the same 10 near-equal partners...and at any level of scale or over extended time periods.I know sponsors who work with small investor databases but it's still clearly a syndication with active and passive roles and equity splits that vary from capital contributions.

Do you by chance have any recommendations for NPN funds or a syndication sponsor?

Also big increases in value can push IRR further upon exit.I find passive investors with millions tend to be fine with 6 to 8% and prefer projects with equity growth long term and sponsors who are experienced for more safety.You as a sponsor do not want to do deals where the investors and lenders are getting some insane interest rates and money because it will set you up for huge failure. 

The sponsor is good but he is not local - that's one specific risk I know of.What are the cap rates there for C class properties?