A properly structured syndicated offering will be an LLC as is, therefore, from an asset protection standpoint, there is very little point to forming an LLC just to participate on the LP side.Now, if you are trying to pull partnership money and charge the partnership a management fee, which sort of makes you a feeder fund into the syndication, then there are a whole host of questions for an attorney. 

Most syndication business plans involve a value-add strategy of some sort. 

Am I issued some sort of deed after 3 years of paying?

It’s insane trying to get some sort of funding via SBA Loan because some require either 25% of what you’re asking to borrow, collateral, x amount in assets…etc.

@James Wise  I knew you could contribute more than welcoming folks to the site  LOL.GREAT POST and DEAD ON PIONT.You just don't wake up one day and have all sorts of money thrown at you because you decided you want to jump in the RE game.. you MUST do some apprenticeship or however you want to couch it.

I bought a 3 bedroom house thinking to do the same but decided on spliting out one side of the house, sort of like two separate apts and it worked out great!

What sort of business do you use it for, and do you think you might choose something else if you had a different business area/model?

I’m sort of like a bank teller looking at an ID.

Maybe just some sort of "look how dumb those Yanks are" thing?

The company should provide some sort of warranty on work that they do to remediate the issue.