Should I go with 7300 sq ft and try to get as many tenants as possible or stay within my comfortable financial position.2.

Well, we were able to gain great equity value in an area that we knew was up and coming.

If so, this is just a real estate loan, and it would typically be recorded in second position behind the first position purchase money, if allowed by that lender.

Between appreciation and our payments we have 50K-75k in equity.

@Noah Bussanich when you say "seller carry" do you mean that the seller would carry a note in the 2nd position? 

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.

To answer your question, the onsite management companies charge a 30-45% management fee and you just simply will not see any positive cash flow if you go that route. 

It all ended up ok, and we got out with our hide, but it all cost me over several million of my equity. 

House hacking is not an option but I have good equity in my primary residence so I'm looking into HELOC options.  

So in the best case renting is cash flow neutral (or slightly positive, like $100/mo positive) after PM fees, and -$300/mo in the worst case.