And to have LPs sign on loan guarantees is very unusual unless the investor owns greater than a threshold percentage set by the lender, which could be 10%, 20% or 25% ownership (or actually it could be any number at the discretion of the lender but these are the most common that I've seen). 

The big players are safeguard and LPS, plenty of little guys and lots of middle men between the big 2 and you.

I know it is a matter of the partnership agreement that dictates the relationship between a GP and a LP(s), but just conventional terms would help me understand (or a model partnership agreement.)What is a typical exit plan of a LP? 

Here are some basic numbers as I see it:Purchase price: $1,800,000Down payment: $360,000   Closing costs and rehab costs (lots of rehab and expecting high turnover) $140,000Total amount invested: $500,000Expected annual profit after mortgage: $70,000Preferred return of 8% to investors ($40,000) and then 70/30 equity split (LPs: $21,000, GPs: $9,000)So, if I syndicate this deal with a partner (I don't like the idea of syndicating on my own) we would each make $18,000 for the Acquisition Fee, then $2,700 each for the Asset Management Fee, and then $4,500 each as our part of the equity split.

Some would rather deal will 100 new $50k individual LPs who have relatively little leverage in a deal vs 1 institutional LP committing $4.5M that requires major decision/control provisions and higher return thresholds. 

That and to stimulate conversation on the topic.

September 16 deadline (delayed one day since Sept 15 this year is Sunday) applies only toPartnerships (including some multi-member LLCs) that filed a 6-month extension request on Form 7004 on March 15S-Corporations that filed a 6-month extension request on Form 7004 on March 15I’ll start with a concise summary, followed by a more detailed explanation:S-corporations: September 16thGeneral and limited partnerhips (GPs, LPs): September 16thSingle-member LLCs: October 15thHusband-wife LLCs in community property states: October 15thOther multi-member LLCc: September 16thNow bear with me, as this can get a little confusing, especially with LLCs.Most LLCs (Limited Liability Corporations) are NOT corporations.

For this reason, even if you're not required to be a licensed mortgage loan originator, you should work with a knowledgeable professional who can help you with the paperwork and underwriting.It's important to note that the Dodd-Frank Act doesn't apply to:Properties intended for investment purposes, such as rentals; vacant land; commercial properties; ornon-consumer buyers, such as limited liability companies (LLCs), corporations, trusts, or limited partnerships (LPs).For sellers offering owner financing, the most substantial risk is the buyer not repaying the loan as agreed.

When you can no longer lower rates, the only option left is to print ridiculous amounts of money to stimulate the economy.

I've been trying to research this further and I've seen some references where using a syndication model the GPs refer to keeping more of the depreciation than the LPs, but I haven't been able to find any details about this.