Even if you assumed the same passive return for both options...15%...you would have to analyze and invest in numerous flips (say 15 or so) over the course of 7 years to get the same return as 1 longer term syndication investment. 

:^) quality vs. quantity is my main dilemma now!

No one is serving the middle market well (at least in quantity).

We closed on a STR last week for $368k (3/2) and have a closing next week for $249k 3/2 (both single family residences) and have a motel conversion currently under contract for $1.1M for 13 units that are STR as well as numerous other STRs under contract or in negotiation. 

For single family, there are numerous low down payment options that are better than FHA.All the bestStephanie

It may seem that I'm trying to argue for the newer sun belt places, but I'm really trying to understand if I could be missing something, as it seems that there are numerous buyers for those older places.

In a recent deal purchasing an REO (Freddie Mac), I encountered numerous problems with not only getting the deal locked up, but dealing with all the Freddie issues as well.So the new record is this: NINE counters before fully executed into escrow!

For example:April - Oahu (Mililani) - numerous applicants - rented in 10 days (this has been typical for quite a while)May - Oahu (Mililani) -  4 applicants - rented in 22 daysJune - Oahu (Wahiawa) - 5 applicants - rented in 25 daysAll three units are 1 and 2 bedroom condos, competitively priced.Looking at Mililani Parkway for example.  

Any one Nestor can certainly go there whole career without an eviction, without major enact damages,beth but on average, nobody can expect to duplicate that over and over across tens or hundreds of doors, that X the reality.Buying a newer property may lower your costs in the first 5 years, but if you tend to keep t for 20, you will have capital expenses (roof replacement, water heater replacements, HVAC replacement, plumbing and electrical repairs, not to mention numerous painting and landscaping costs over the years.

However these can be quiet expensive if there are numerous violations, or you are a habitual offender.