At the same time: Many sponsors take in multiple investors in a large batch (i.e. a closing).

@Chris Seveney Account Closed : Thanks a lot for your time to respond.

I was into the transaction about $12,000 total ($9,000 to the sellers and $3000 in closing and carrying costs.) 

You are also close to the beach, so have you considered STR or house hacking an STR home?

Who have turned out to be the syndicator's close friends.This guy is smart enough to keep his operations relatively small so the "agencies" seem not to have the resources to go after these small fish.https://www.cbsnews.com/losangeles/news/fbi-cracks-down-on-a...

Account Closed gave you great insight! 

Make sure your not buying on the wrong side of a city/school border and are using rent comparisons that might be geographically close but are really different renter markets(like buying in East Cleveland and using Cleveland Heights rents).  

It opened my eyes to the associated risk, closing escrow before the sale. 

Keep it close to home until you have experience. 

Reaching out to the BP community for  recommendations of tax and legal professionals close to my area specializing in real estate investing.