MF Syndication Questions from Beginner

[Mike Smith]

Hello,

I've been lurking on the MF forum for a while and have learned a lot.  I'm interested in putting money in a passive syndication.  I have a few questions:

1.  How much reporting is given to the investors?  Are there monthly reports listing gross rents, expenses, etc?  I'm a little worried about investing and not getting the forecast return because of some sort of mis-management (the syndicator's uncle is installing replacement dishwasher for $1500 each).  Especially when it comes to money, I'm a firm believer of "Trust in the Lord, all others must provide data."

2. When are distributions typically made?  Are they quarterly, yearly, or only when the property is sold?

3. How liquid is the investment?  I don't anticipate needed to sell the position, but if I needed the cash out can I sell to any accredited investor, or does the sale have to through the syndicator?

Mike

[Paul Shannon]

Highly recommend Brian Burke's book "The Hands-Off Investor".  Its covers the gamete on investing as an LP, and could be a blueprint on how to operate successfully and transparently as a GP.