Delayed Syndication for MFR takedown?

[James Kojo]

Is it possible to structure a personal purchase of a commercial MFR property with the intention of selling of pieces of the deal after the deal has closed?

Why I ask: I buy properties for my personal portfolio (I'm not a syndicator, yet.) Sometimes I get shown deals that are just a little outside of my strike-zone. If I check the seat-cushions and the change jar, I'd have just enough to close the deal, do the capex, and have 3-6 months of operating reserves. But then I'd have a big chunk of my net-worth tied up in a single deal, which I don't want for the long-term.

So, my thinking is, I would spend my initial time and resources finding, funding and closing good deals with my own money and financing, then I'd eventually sell half of the ownership to friends, family and colleagues after I closed the deal. Maybe I could even structure the sale to account for risk tolerance. So my early-adopter, start-upy friends could get in early right after I close, and maybe my retired mother comes in after stabilization.

Does it work, and if i have that exit strategy in mind, should I do anything before-hand? Obviously, I'd have to have an LLC take on the initial financing. Anything else?

Thanks for your thoughts!

James