Buy 4 more properties - one approximately every 3 months, based on the following logic = always fill existing property with a tenant prior to moving on (I'm new, and this is my way of managing risk); build resources to purchase next property (I have pretty decent purchasing power right now through conventional lending with my current job, and I also have a private lender ready to loan on my next property, and I also get a quarterly commission check that provides a nice financial bump every 3 months); finding a property takes time, but it is worth it to find the right property in the neighborhoods I want to invest in, at the right price.

The con here is evaluating the sydicator, checking their due diligence and financials are correct and conservative, and then making sure no games are being played. over the past few years, many folks including myself have found themselves victim to overly aggressive syndications where the operators were reckless with investor funds. 

I would run comps on zillow, check out BP calculator to run numbers and Rent-O-meter to check average rent. 

I asked if they would offer a deal if I pay via check instead of CC. 

After it's stabilized looking like $28-30K annual cash flow, probably $72 per unit with a 4.3% cash on cash return.....assumptions using market standard opex since you didn't provide that but did you underwrite this one? 

Would highly recommend checking out REIAGC.

3) Check out some of the local meetups that you can find in this forum!

Take a deep breath and check out your options, also you were there first so if you have relationships use them to reinforce that you have been a good neighbor and no one knows how good a neighbor he will be.  

Jennifer - If you have vetted the prospective tenant thouroughly (i.e. credit check, income qualifications, etc.), you shouldn't have to worry whether or not you sign them up for a 1-year lease or a month-to-month. 

Another issue is these homes have standard 15-30 year loans in my personal name ..... so that is another issue !