P&S Syndication GP
Hi, if I am a new GP to a syndication. What legal documents should I expect to sign or be responsible for? I understand the operating agreement is a must. Do I also have to have my own attorney review the P&S , Do I have to sign the P&S as well? Is there one main GP that drives the P&S and legal docs then creates an operating agreement with me ? How is the purchasing and legal process of being a GP in a syndication. Any simple steps to this will help me do my own research.
From my current understanding - my partner is driving the P&S with his attorney and the seller. They will create an operating agreement with me and I should get an attorney to review and get an LLC. Just seeing if anyone can give a big picture to this