This is a great example of why the sponsor is an integral part: "it all starts with a good sponsor", but the deals matter too.  

Not sure what your question is - the sponsor bought out there jv at what might be under market but jv is probably happy what am I missing ?

I intend to stay solely an investor and am looking for a sponsoring broker who can support the following:Let me hang my license without having to sell or take on clientsProvide MLS access in Reno or Las Vegas areaAllow me to use my license strictly for personal investment purposesOffer a flat fee or low-cost monthly option (no commission split required)I mainly want access to MLS for market research, deal sourcing, and occasionally representing myself when purchasing properties.

This analysis makes 2 assumptions: 1 - the syndicator/sponsor is HONEST and not a scam, and 2 - the syndicator/sponsor is competent in investing in the subject  area of real estate So assuming these 2 conditions are true, what is the biggest syndicator “fail”.  

One thing is for sure certain Ghosting lenders/ investors is about the worse thing you can do as a sponsor even if your communications are bad news..

If not, then there's your issue...you need a sponsor that has the track record to help you build yours.You said the PE group you work with, what type of deal did you work with them on, and what's the concern with funding this? 

This offering requires only that the sponsor fully disclose all information to the investors; there are no prescribed PPMs, Operating Agreements, or Subscription Agreements required.

Syndications are set up as multi member LLCs with the “managing member” being the sponsor (“syndicator”) or limited partnerships with the syndicator/sponsor being the General Partner.The syndicator/sponsor/managing member/general partner may employ a property manager, bookkeeper and or accountant.  

Choose a good advisor to help guide you amongst the many DST sponsors! 

It's 3rd party site with no affiliation to ODC.https://investclearly.com/sponsors/open-door-capital