Conventional lending options for 1st deal with multiple partners

[Quentin B.]

I, and my two other partners, are completely new and looking to do our first multifamily deal together investing our own money and using a conventional loan. We learned quickly that purchasing through an LLC would be less advantageous.

But we also quickly discovered that many lenders will require all partners to personally guarantee the loan otherwise (meaning the whole loan is on each of our reports) while we would only be able to claim a portion of the rental income (based on our agreed split).  

So, my question is are there investor friendly traditional lenders that will allow one of us to personally guarantee the loan and treat the other two partners as investor loans (We are investing in the Atlanta area)?  

In that same vein, how will that affect Debt-to-Income (i.e. if economic splits are agreed upon can the principal partner capture payouts to the other investors as a management fee)?