Reddit reviews Principles of Real Estate Syndication: With Entertainment and Oil-Gas Syndication Supplements Included
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On a smaller scale it would be a group investment - often called a syndication. Among advantages are that you, as a group, can control a larger pool of properties, thereby giving you more diversification and reduced risk. If you're the syndicator, and manage the investments, you can also recieve some sweat equity for yourself.
Samuel Freshman has a good book on the subject here, (in spite of the corny cover art).