More times than not, it takes a few years for LTRs to show consistent cash flow depending on the model of course.

Sounds like you're aiming to make some type of algorithm or software that tries to eliminate the need of competent real estate people utilizing their experience in markets they are very familiar with..........Didn't Zillow lose about $500 Million flipping houses using this exact type of model? 

We are looking at buying a park model home and land.

@Greg ScottThe fund of fund model will start to subside as some of these deals start to have problems.

These are some of the things sophisticated LP's look for.

Just like being a LL, when all is going great its pretty stress freeSyndications..... ask some of the guys on the posts about their syndications halting payout and making capital calls or ghosting the LP's.....

Needed some guidance on the fees for this kind of real estate and whether the offered pref and LP/GP split actually makes sense or is it too high/low?

When 2 out of 11 investments go completely bad, it can't be a sustainable model for investors.Good luck,Glen

I think there could be some work done on this to model ways to put reserve money to work prudently over time. 

Padslip has that model, it is a kind of the competition for people who do house hacking :PGood Luck in your search and investment.