I will be helping the LP select a property operator, so the GP really needs to source land or properties for rehab, do the development process, and then monitor the property's performance and look for exits and the other things a GP does while owning a hotel.Ultra high net worth individuals who can take down numerous $20 million properties usually need family office support to manage their finances (capital preservation, diversification, insurance, charitable giving, wealth transfer, tax services, access to thousands of conservative investment offerings, etc.).Ground up hotel development with a new sponsor in the space should not be an option, particularly at this point in the cycle. 

Nothing wrong with being a kind landlord but being a charitable landlord is expensive.    

Of course there is 1031.and clients of mine to charitable remainder trusts  and or have their own family foundation were they sell and donate to the foundation.. many ways once you get into the higher net worth were you need to worry about this type of thing

So when looking at syndication deals, I prioritize sponsors who "give back" in some way to the local communities, and focus my own charitable giving and volunteer work in this arena (affordable housing, homelessness prevention) as well.Like you said, esoteric perhaps, but I think it matters! 

Or you start family trusts  or charitable remainder trusts.. one of my clients / close friend has started a family foundation ( charitable) and is moving his Vegas 4 plexs into it.. tax benefits then the cash flow goes to his foundation which is supporting schools in Hawaii.. 

Or maybe you are truly a friend and he's feeling charitable and would accept a deal that only offers a 4% return.Ask him what it would take for him to help you get started.

One of the charitable organizations I personally support receives a number of donations from its members and I have approached them about multiplying these investments through syndications investing but they weren't too interested in such idea.

You can even double-up by volunteering for a local political campaign or charitable service.

Use your profits to be charitable.

@Jason Hendrickson, if you have a large income tax bill you can consider a charitable remainder trust.