They had a management company running the 'hotel' part, each unit had it's own house keeping companies (about 50 different companies).Each condo had to op into the management program and they took a cut.

There's plenty of other financial burdens that could be at play too, it's multifaceted versus just being a cut and dry issue.

The City will find a way to get a cut from you one way or another, so I'm pretty sure they'll have an answer!   

This was a cut and paste post anyway.

Okay, so selecting an off market buyer would not legally prohibit/penalize me from taking a cut of final sale?

You aren't selling a tiny farm, or a cute little 2bd house for $100k.   

You could also look at offering additional GP equity to one of your LP's if the bank needs additional guarantors to secure the note.I like the idea of compensating one LP with a cut of the GP share.

Does this person get a cut off the top for property management?

Yes they take a cut, but they take care of everything and establish reasonable expectations.

Some factors can be extrapolated out for a longer term prospective, such as the nationwide housing shortage (acutely, Austin is at 12 days of inventory for the MSA on January's housing market report).