The active investor, sponsor, or syndicator (these terms are used interchangeably) is the person that is arranging a syndication. They bring together a group of investors to collectively purchase a property.

Typically, they will find the deal, structure it, enroll investors, arrange outside financing, and then manage the asset afterward.

A syndicator is not necessarily acting as a property manager, but they will need to manage the property manager(s) and other aspects of the deal (e.g., get insurance for the property, make sure that necessary rehabs are done, ensure taxes are done for the entities and K-1s are provided each year to investors, etc.)

If you're considering syndication, you don't have to do all of this yourself. You can partner with other syndicators and be a sponsorship team. I recommend this approach and this is how I do it myself. As a team, you split the responsibilities and the rewards.

NOTE: PRACTICE SAFE SYNDICATION.  Typically (at least in the United...