@Jeff Rabinowitz  right Jeff,  in this case the borrower needed 50-60k of assets to document sufficient reserves so the IRA was introduced to document this gap but everything else you said is on par.

Owning them two years should be sufficient seasoning for almost any lender.  

A well written lease with sufficient details sets expectations for both parties.On one hand I am worried about this issue but I am more worried about what else may happen with such a wide open lease.I am actually thinking of giving each tenant some incentives - rent credit, or a no increase at lease renewal time, a new flat screen TV or something, to switch over to my lease, NOW.

and of course, once you've dealt with the same buyer a few times he/she can make the end process vastly more efficient and rewarding.  

But so many new "syndicators" want to get into the business because they have exhausted capital or don't have the sufficient funds to invest.  

Don't see how that is possible unless the seller retains title until a certain amount is paid (down there in LA you have a Bond for Deed) otherwise you'd need to pledge other collateral sufficient to reduce the risks normally assumed by a seller financing a deal, if you don't and things go south, talking a seller into taking back all the financing without collateral and causing him a loss will be an issue for you.

They typically aren't that expensive for basic coverage, and will probably be sufficient for the most typical claims you might encounter.  

Continue to hold sufficient reserves.

I think you guys didn't listen carefully enough, knowledge of the investor putting in a grand, even if they can afford it, will most likely not have the knowledge to assess RE risks, there are more naïve people out there than those with significant knowledge, then add on top of that the hype and salesmanship element tossed at investors and that lack of general investing knowledge, they are doomed to do sufficient due diligence.

Hello BP members,I randomly found the BP podcast on iTunes a few weeks ago, and have listened to the vast majority of them by this point.