In my scenario, I did fix and flips and single-family value-adds while working a full-time job to accrue enough capital to start investing in passive syndications.

Don't accrue more. a 200k salary fresh out might not be so accurate.

I am going into my senior year of HS and have been accruing capital for the past year-ish. 

I also have set aside $30k that is going to be distant from any specific property, as a cushion against the three.Once I accrue more properties-- say closer to between 5 to 7.

Bottom line is I think I can get more of a return if I put cash in a money market at the bank (even though there's little interest accrued) for my next RE purchase versus buying low in my Roth and seeing it climb down the road (esp. since I anticipate that market will continue to drop). 

The rest of the people will report ONLY THEIR PORTION of the interest on line 13 of Schedule E or you're likely to get a matching letter from the IRS a few years down the road.The IRS says:Generally, mortgage interest paid or accrued on real estate you own legally or equitably is deductible.But if you claim mortgage interest when the 1098 isn't issued in your SSN, it causes data matching issues which is why I recommend reporting on line 13 for Other Interest rather than on line 12 for Mortgage Interest.You should also technically create a document or statement indicating that all partners understand that the mortgage expenses, including mortgage interest, are payable out of the rental income BEFORE distributions of profit are made.  

My current 1 year plan is this: Use the savings I accrue over the next ~6 months from my Software Engineering position to make a down payment on a 2-4 unit multi family property within a 15 mile radius of my workplace (Shelton, CT), and house hack it!

FYI - Typically, I've never been able to use the FULL amount of vacation per year as I accrue it faster than I spend it and I'm close to the limit of hours I can bank - 6 weeks. 

Sales proceeds pay back capital contributions, any accrued but yet unpaid preferred return, then the same 50/50 split.Another developer I know did a similar formula (8% preferred return) but tied the split of excess proceeds to the IRR of the project, with the developer receiving a higher portion of proceeds for higher IRR.

Wire transfer, that way you know exactly when they receive the actual money, and there's no chance of additional days of accruing interest added on, preventing a complete pay off/satisfaction.