What are the big sticking points in your LP GP deal structures?

[Anders Jax]

Im in talks with a GP to buy a hotel. There are some sticking points.

They want a contract for 13% to handle sales and marketing for a hotel. Which they want to be the manager of until they sell the property. So the LP cant fire them from being property manager. I think this is way too much to ask.

They also want to structure the deal to where they will get 45-50% of the total profits, which seems way too much.

As well, in most of your deals, does it require both LP and GP consent to sell the property, or does LP have total control over that?