I understand that there are some requirements aren't a legal necessity to obtain, but would look better for future LPs.

The norm for experienced sponsors is that LPs are respectful and thankful for the opportunity.

They would be LPs.

However, I have seen where syndicators interpret the "limit" as 10 or fewer GPs.I haven't seen any restriction on the # of LPs.

Let's say you start with a smaller multifamily and still run it as a syndication and still raise from LPs.

For context, he produces a lot of content about passive investing, and advises LPs on existing and future investments.

I was just in Tokyo this past winter and can confidently say you might enjoy the break from the crowds and stimulations of Tokyo for SF.

Many LPs are seeing smaller or paused distributions but if the mortgage is being paid and there isn't a balloon coming due soon hopefully you'll be able to ride out these bumpier times.

@Pavel Ushakov and @Brad Schaeppi you two should connect if you haven't already.Sorry for the long post, just  got back from vacation so looking for more RE stimulation.

@Andy GrabisThere was a recent discussion on this topic you might want to read.https://www.biggerpockets.com/forums/519/topics/56...If that doesn't answer your question(s) - or stimulates additional questions - then fire away!