Those brokers know the multifamily market intimately, have teams that prospect daily for years with property owners, understand the lending products, know which lenders and commercial mortgage brokers to use, know which multifamily property managers to use or not use, know which asset protection attorneys to use, know who to use and how to conduct physical inspections on an apartment complex, understand deal analysis closely...the list goes on.  

It's sort of a marketing ploy, but more a company policy of putting these as standard fare in a transaction.Outside of the "freebie" you have from the purchase - do not renew and do not ask your property manager to conduct maintenance through the red-tape BS of using a home warranty.  

In Bridgeport, CT the investment is about 10% of rents collected which frees you from taking resident phone calls, coordinating maintenance, leasing vacancies, accounting P&L's, conducting inspections and making property payments.Owners often times suffer from "death by 100 cuts" when having to handle all of these small items, missing opportunities to achieve bigger goals.

. ($225K total) Passsive Investor A) contributes $100K Passive Investor B) contributes $100KActive Investor (me) contributes $25KNext, I take on the construction loan ($1.85M) to build retail space, enlist the leasing tenants, and conduct a long term re-fi to hold and manage the property.  

I find out whether permits were issued, inspections conducted and the details of what was submitted for the permit.Typically the insurance carrier will prepare a detailed report as to what they have approved to repair. 

Maybe Syndications are different for Partnerships.BUT, as a Sophisticated and Accredited Investor, you should know how to conduct your own due diligence on the history of the Syndicator and the strength of the pro-forma projections and the prospectus.Everything is buyer beware.

Don't be afraid to fire them if they are doing a lousy job, taking too long, not showing up to work, or conducting themselves in an unprofessional manner.

If you do get a cut of the commission in the form of "under the table" by your representation, that is a violation of the code of conduct, and that's called a kickback.

However, commingling is most relevant and necessary when you are conducting a business via business entities.

You have to know about septics really well to get into the bidding or auction: even with contingency on septic inspection it's not so easy to get out of the deal - the inspection can't be conducted when septic haven't been used for a certain time....plus much more issues.