And with syndication, you would be better off understanding marketing and persuasion more than real estate operations, since marketing is where the syndicators who have billion dollar portfolios and collecting millions in fees are better than the real estate operators.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

If not, it may be worth it to pay them a small fee to walk through the property with you and provide their guidance/expertise.

lots of good threads at the syndicator and fundraiser review thread      would check out the https://www.biggerpockets.com/forums/-syndicator-and-fundrai...but try to find a syndicator with experience, >20yr so has been through down-cycles, and also one that puts a lot of their own equity into each project, so their interests are aligned with the limited partners , from my research, there are a lot of syndicators whose fee structure tends to incentivize too much risk taking.

I'm seeking advice from seasoned short-term rental pros, especially those familiar with Locust Lake Village.Here are my burning questions:Property Management: I'm considering Evolve (10% fee) to help me out as a newbie.

I have been told about 60% of the rent will go towards Taxes, vacancy, capx, property management fees, repairs & insurance, and I will be left with 40% to pay off the mortgage or keep as profit.

Leverage the 0% down payment, but be mindful of funding fees.

If you sell them and they are deemed original use, the buyer can hold ten years and get the full benefit if they buy it as a QOF. 

Use real estimates, but also factor in rent increases over the years and what condo/HOA fees are likely to do as well as major repairs. 

I was about to start the process to get a retroactive permit but realized the additional cost of a new exterior stairwell (metal) and architecture fees is almost 30kIm starting to weigh the options of either full tear down with a new 4 unit construction or separate building in the front of property (current is set back thus the extra costs to permit)  or adding a 2 story 2 unit addition connecting to the old propertysorry this post has become 2 ideas i need advice onif it deconvert can i use it as an inlaw suite with 2nd floor unit or a duplex up.