$1M+ deal, without any personal money invest?

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Random question:

What is it called when someone pieces together a deal on a big apartment complex, gets investors together to purchase it, and they get a share of profits without investing any money? 

Is there even a name for that? 

It might be simple, I might know it, but right now...

(-_-)... I'm drawing a blank

Syndication.

Syndication or a Fund, either way can work.  It is very hard to get people to invest with you if you put nothing in, especially when you are starting out.  I've put as little as $50K into a deal, but that was after having a very successful track record for a number of years and developing a fairly large portfolio. 

What you're describing is real estate syndication. When you are selling shares of interest in real property, those interests are securities and you must observe the laws and regulations relating to securities. Syndications can be done as private offerings, in accordance with SEC regulations. 

Generally there will be one person or entity (the syndicator) who is running the operation and there will be passive investors with capital. There are multiple ways to profit as the syndicator without investing any money of your own. You take a fee, either as a flat fee or a percentage of the total transaction; you can charge an ongoing management fee; and, you can receive a portion of any surplus cash flow remaining after you've paid your investors what you promised them in return, and receive some amount of equity in the property as well. 

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