The way a competent loan officer would handle this is use this form:https://singlefamily.fanniemae.com/media/7746/display  This starts using the income or loss directly from the K-1 which will have already accounted for the P&I on the 1065.   

Some of my best strategies have been:- Home Depot parking lot early in the morning- new subdivisions, new trades on display every day- local REIA clubs

Got this note from VRBO today:Dear Partner, We are writing to inform you that effective July 1, 2024, California Assembly Bill 537 will prohibit advertising, displaying or offering a rate that does not include all fees or charges required to stay at a short-term lodging (except taxes and fees imposed by a government on the stay).

After navigating to that URL, it prompts me to enter in my email address and it says it will send the 33+ forms to my email, but after doing so and selecting "Get the files" a blank white popup displays and I never get an email sent. 

Thank you Ryan for displaying the requirements!

Kept in its antique 1960s interior and displayed classic Disney designs for travelers looking to stay for Disneyland

A lot of times they will prominently display an appealing cap rate, and then you look at the offer memorandum and it's clear that they are advertising a "projected" cap rate based on "projected" rents.

Bank Statements: Reviewing bank statements can provide additional evidence of consistent income and display how much cash they have in reserve. 

I did the same and was able to jump in pretty quick with zero knowledge and a displayed aversion to finance and real estate, to "I understand what people are talking about" (which is pretty impressive knowing myself).

Since you are discussing syndication, it is likely a passive investment to you.Whether the loss is ordinary or capital will depend on the type of investment and the positions taken by the partnership and will be displayed on the K-1.There are further things to consider such as whether the K-1 is fully disposed of or not.