I would call the tenant/real estate agent and have a calm business chat about reputation & integrity.

Since you are young, you can calm owner occupancy on properties every year and get away with <20% down payments. 

I have seen one that essentially has a 20% pref (if you invest enough), but no upside in the deal.I would search around for syndication structures, waterfalls, syndication fees, etc.  

We don't charge any additional development fees or give any preferred returns or waterfalls.

(check comps, expectations for area first, i'm up north snow area....)bathrooms, get rid of anything gold. chrome/brushed steel/nickel... maybe modern but you want serene/calm/spa. choose paint color wise.kitchen: there seems to be a mix of black can painted plastic and metal pulls. how are the cabinets?

Please tell me your favorites out of the following 10 titles.1 - Up the Street for Peace2 - Cozier Than You May Think3 - Peaceful Retreat After the Strom4 - Beauty in the Wilderness5 - Beauty in the Roughness6 - A Gem Just Past the Rough7 - The Calm Retreat in the Strom8 - Destination Worth the Journey9 - Diamond Just Past in the Rough10 - Diamond Just Past the Rough

Looking at the base cabs and waterfall island countertop, did you spend some time on GW?

They mismanaged one of my sec 8 properties into abatement, thereby losing the tenant and the worst part is that they then calmly informed me that they were resigning and walked away leaving me holding the wreckage they had created.

The split can be a fixed ratio, say 60/40 or it can have a waterfall structure where the ratio changes more in favor of the GP the higher the returns are.

I suggest creating a few models (including waterfall) and running it by a few experienced deal sponsors to get a feel for which direction to go to.Best!