While I understand the basic structure of General Partners (GP) and Limited Partners (LP), I was under the impression that GPs always had to put 'skin in the game.'

Under 100amp service - very difficult to insure. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

We’re weighing whether to leverage our funds by putting 20-30% down and financing the rest, or to buy properties outright in cash and then pursue a cash-out refinance.I wasn’t previously aware that each person in a household can have up to 10 mortgages under their name.

For my area, looking to stay under $180k but could adjust slightly.

You have to be up front about how the property is being used.Also, remember that umbrella insurance will not do anything for you if the underlying property or vehicle is not insured correctly.  

Do you have any suggestions on how we can secure long-term financing under these circumstances?

My advice to you is that syndications involve more layers of what I would call "Middle Management" - which takes money (profits you might call them) to fund.  

In Philly you actually have less rights as a landlord under M2M. 

If it holds up under these conditions, you've got a solid investment—better safe than sorry!