Some successes come from luck, while other successes come from smart decisions. But a great deal of financial success comes from putting yourself in a position where luck can do its thing.
When evaluating a real estate investment, you have to look under the hood. And when you get under there, you better know the difference between a radiator and an alternator. You don't buy a car just looking at the horsepower and you shouldn't buy an investment just looking at the projected return.
Another option for investing in real estate is turnkey direct ownership. You have more control and tax benefits than syndicated shares but there are downsides too.
Many real estate investors lose a lot of money on their first investment. Figuring out how to do it before you start helps, but a little luck helps too.
Syndicated real estate deals are generally structured to have a down payment of around 1/3, and last 5-7 years. This maximizes cash flow, protecting it from taxes by the depreciation while still taking advantage of leverage and spreading the transaction costs over multiple years.