BUT make sure to study the stuff you don't know as well (Due Diligence, Zoning, transactional, financing, leasing, and disposition concerns come to mind, depending on your experience with each.)   

So, dispositions are controlled by the Mortgagee.

In Michigan, the security deposit is the tenant's property until they move out and a notice of damages is provided to the tenant showing the disposition of the security deposit.  

I have experience in commercial office and multifamily acquisitions, dispositions, asset management, and property management.Additional experience in these real estate verticals: Development Self-Storage Land Acquisitions Retail Industrial HotelsSeniors Housing Student HousingInterested in connecting with other real estate professionals in the following verticals: Multifamily investments between 2-30 units Single family rentals Manufactured home parks Vacation Rentals (Ski/Beach) Marinas Hotels near vacation destinations JV venturesLets grab lunch if you are interested in connecting!  

I've primarily flipped since then but I've also done some freelance property manager work, due diligence, acquisition and disposition work.  

Its funny how quick returns diminish when your disposition is 10% in realtor fees, closing costs, and fix ups.

I have learned over years and years the percentages of a buyer being able to actually close on something based on various factors.For example if you have all these elements against the borrower and on top of that they are doing a small deal of 1 million etc. in commercial it's not worth the time.Lots of people learn, a few put in offers, even fewer buy, and even fewer buy SUCCESSFULLY where they will make money during ownership and disposition.

I should now just send a certified mailing of the disposition of deposit to my rental address and keep it unopened for my records and keep the security deposit.  

Generally what you see and is common is to charge an acquisition fee, asset management fee based on the income generated by the property, refinance and or disposition fee on exit.Yes you would pay any preferred return first after debt service then split any reaming profits as specified.Syndication fees will vary depending on the asset and structures but you will be in probably be in the $10-$20k range for a smaller asset with a simple structure.Overall it sounds like you really need to study up on the business and process of syndication including speaking to some SEC attorneys to make sure you thoroughly understand the laws and process around raising capital and structuring deals.

- What is a fair structure as far as cash flow split, equity split, acquisition/disposition fees, etc for this type of arrangement?