Sales comparable are not readily available for the hotel industry so I am curious as to how most investors are valuating these investments on both acquisition and disposition.

EX1: The Fee Deal This deal is best if you have a large team or overhead you have to pay.1%-2% Acquisition Fee5%-20% Construction Management Fee1%-3% Disposition Fee30% of profit after fees to you70% of profit to capital partnerEX2: Preferred Return DealThis deal is best if your capital partner wants a consistent return with some upside and/or if you think you have a smoking hot deal. 8%-15% Interest payments on your partners capital investment (paid when the deal closes)60%-80% Profit to you after Interest (Preferred return)20%-40% Profit after Interest to your capital partnerEX3:  The Simple DealThis deal is best if your capital partner is not sophisticated. 50%/50% Split of profits0%-2% Listing Commission (If you are the broker)I've put together dozens of partnerships.  

Or, if you just recently disposed of the property, can you file the Form 3115 before recognizing the disposition of the property on your taxes?  

We have redeployed cash from an apartment disposition, that we temporary used to close on a development project, into a opportunity zone.

And that's not even getting into partial asset dispositions and other mitigation strategies which could turn that $100 payback into a $50 payback.It's good that you're factoring the tax implications into your calculations, you'd be surprised how many people don't do that.

On the buy and hold, you have the deal sourcing (who found and brought the deal to the table), who managed the rehab, who funded it, who managed the tenants, and who managed the disposition.

My broker is declining additional studies at this point, as we are more focused on brokerage/dispositions, so we introduce anyone who requests a study to Ben.

There are many different dispositions of real estate that all use the term auction.

@Jason Bajaj  In addition to Dave's comments above, your Canadian partners should obtain tax advice from a Canadian accountant or attorney specializing in cross-border business as their is no equivalent Like-kind deferral under Canadian tax law,  CRA is going to see capital gains as being due on the disposition.

@Dwight Simpson that is a bad run; but you still have your senses about you, and your disposition seems OK, so there is hope.