I thought the maintenance allocation was low but when I toured it I saw why: they had somewhat recently renovated the place to purpose built it into student housing.

The good thing about a partnership is that it can have any profit/loss allocation and terms so long as all the partners/members agree to them.I am sure your friend will want to be on the title of the property so his rights are protected.One thing to consider is that there are laws/regulations regarding foreign money.

If you purchased your property for $1,000,000, your yearly depreciation deduction should be around $30,000 depending on land allocation.

For buy and holds, you are entitled to depreciate the full cost of the property (less the portion allocable to land), and not just the down payment (i.e. if you buy property for $1 million but only pay $200,000 the full $1 million is depreciable- as long as none of that is allocated to land). 

A financial adviser can help with the allocation of capital and alternatives but they can't help with "business" operations.

I didn't see an allocation for PM fees (mgmt., lease renewal, and tenant placement).

The only difference is the fees normally charged the investor, are allocated to the nonprofit...as a donation from fyre CAPITAL.I might need to take a step back and realize that fyre CAPITAL itself is the donor, rather than the investor. 

I'll clarify:  In his lease it said "There are 2 parking spaces" towards the end, which is vague I know, but as far as I understand this is interpreted as 2 spaces allocated to him. 

As a matter of fact, the portion allocated to the interest will decrease every month as you are paying down the principle which means a smaller amount owed = less interest due.

If you are to develop equity quickly I would advise to flip houses and new allotments in the 1031 exchange programs allow you to access bridge loans to source properties while you are bound with your initial investment as long as your equity from your first transaction is already allocated through your QI 1031 exchange.