When they do, they do so into an investment they trust, and especially in the case of real estate syndicates, with investment sponsors that they trust. 

Budget $40-50/SF for template, install, sink and basic level.

This will decrease your stress levels and elevate your belief that you are able to be an investor and do this business.

Current rents: you can glean this information through online sources as well as old-school searching (walk-ins, calling the buildings)Talk to local brokers to get the inside scoopMarket analysisCheck to see if building is in a flood plainYou can ask for, but these items are usually provided after signing a contract: Leases for lease auditing against bank statements, tax returns and leases (usually not provided before a contract has been signed).Tenant payment historyViolations, delinquenciesLease addendum and/or other agreementsTax ReturnsBank StatementsUtility billsCan RUBS be implemented (some municipalities may not allow it)Service contractsReserve fundsEnvironmental assessmentEmployee recordsStructural issues including foundationEmployee historyOther value-add features that can be added include:Trash valetCar portsStorageDog parksTo be honest, a similar level of due diligence is required across multifamily and manufactured housing (mobile home parks).Best of luck!

Doing a syndication is expensive for the first round, that's why it's nice to have a few people you trust to form the LLC with you, and you can try out the process of raising money and meeting investor demands.If you don't have that kind of time, then I recommend investing in someone else's project.

This is a two-story house with 2bed 1bath and kitchen on both levels.

I'm a big fan of his level of service.  

This home has a tenant which adds another level of complexity to the issue.

May of my clients have used IRA Services Trust Company and the are located in northern California. 

Find someone you know well and trust.