Don't worry, the other tax pros here on BP will upvote your advice when it is excellent and place additional comments to say "oh yeah, this dude is right and here's why", or the tax pros will disagree with your posts and lay out why. 

So definitely want to ensure all parties understand and agree on the structure.With this being said, I disagree that all limited partners want an upside.

Others, I'm sure, will disagree with me.2.

But some landlords may disagree.

There will definitely be people that disagree with this but that has been my experience over the last 10 years.  

As for not chasing cash deals, I slightly disagree. 

I know people will disagree but everyones investing strategy and goals will drastically differ.As far as prices being set by rents/cap rate, I'd say at least in my area I'd say they dont... like everywhere right now it seems like the crazies are out there that will buy old houses in C neighborhoods for a 5 CAP.

I'll disagree with Jeff S. that you NEED to meet lenders face to face. 

(LOL)I disagree with all the people that suggest this is a problem tenant that must be gotten rid of ASAP - a bit premature for that conclusion IMO.It could be the new tenant is attempting to be helpful by pointing out there are faulty stairs, and if she ends up getting hurt because of that, the likely result is a lawsuit from her to the landlords, which in fact it is. 

@Eric James SlaterI disagree with the general consensus with caveats.Define "cool".