Multifamily Financing with Investors through a Bank

[Benjamin Romski]

What is the best way to go about financing a smaller multifamily deal (10-50 units) where we're planning to bring investors in? 

Previously, my partner and I have acquired an 8 unit building where we brought in an investor as a general partner and that investor is personally liable for the loan in the event of default, like my partner and I both are. We're looking to scale by bringing in 2-6 investors in the next deal (targeting 10-50 units with a $2 million or less purchase price), but want them to be limited partners with limited liability. 

From discussions with a few banks, it seems that the banks will only let these people be limited partners with no recourse and not need their personal financials if they own less than a certain percentage of the property (anywhere from 20% or less). Does anyone have a recommendation on how to get around this using a bank? It's likely that one investor would make up a larger than 20% share of ownership. Obviously things may be different if we could find a private lender and we don't want to venture into hard money.

Thanks!