It's a breeze, the cash on cash return, while low in absolute terms, is crazy high (3% down + seller credits).

If your finances and credit are in good standing, it sounds like conventional would likely be the best way to go, if it’s your first rental property.

My bad when I said RMD. 

I don't think we ever connected over the phone, and I'm pretty sure that was my bad.  

I've been pre-approved, but that was through my personal credit.

Since there is a property manager in place, I would let them be the bad guy and raise the rents.

I have perfect credit 20% cash down on 400k purchase.

If you lost your job, or your credit changed, then you could not do this or other strategies.  

@Seena NassiriI'm based in the Bay Area with a lot of clients that own rental properties out-of-state so I think I can answer this question with creditability. 

This is why everyone want to become GP lol ;-)- So in your personal consideation, all in all, LP investment in bad market would perform even worse compare to invest to direct ownership- However, lets say now is good time to invest and market is good, then it is best to become GP of syndicator because you would make money 2000 times more LOL - hope you get it how you approach investment based on time and risk perspective.