However, on the down side, it creates a very "buyer/customer beware" environment.

I think it works really well to limit the downside risk of a down season, but I wouldn't trade any of my good months for it.I also wanted to mention that you may also want to take a look at posting your unit on Facebook groups. 

The positive is separation of duties and protection the downside is more paperwork, two sets of bank accounts etc.

The major downside is the school districts BUT there are plenty of people that live there so there is a demand regardless of that.If the building as slowed down in the Winchester area that a good and bad thing.

I often tell people when they get scared of the downside they should also be considering the upside. 

So, if a tenant pushes back on the MTM, to me that's a red flag, because there really is no down side for them unless they are up to no good.

Only downside would be if you already have a 3% mortgage on it. 

I would do a lot of research on the internet on the downsides of syndication to make sure you understand what could go wrong with them.  

Of course, the downside is that the barrier for entry is tough for folks trying to get started.In this market, you'd better have an extensive network of realtors, brokers, contractors, PM's, fellow investors, wholesalers, etc that you've built up over the years to find deals as well as a good team you can trust to bring those properties to the rental market.

With repairs you stated and huge rent increases needed, it sounds like a poor choice unless you do what Nathan said and leverage the downside points in your negotiation.