Final answer:
Jacob's investment in a real estate syndicate does not afford him direct control over property management, but offers diversification, limited liability, and professional management expertise.
Step-by-step explanation:
Jacob has invested in a real estate investment syndicate to purchase a shopping center. Among the listed options, the one that does NOT describe the advantages of his participating in the syndicate is c) Direct control over property management. In a syndicate investment, individual investors typically do not have direct control over the property management; instead, they rely on the syndicate management team. Advantages often include a) Diversification of investment, with risks spread over several properties or types of real estate, b) Limited liability, protecting individual investors' personal assets, and d) Professional management expertise, leveraging the skills and experience of professional managers to handle day-to-day operations and strategy.