I’d challenge you to go approach any sponsor and and ask them what percent of the deal they’d take.

Very wrong approach!

I’m interested in learning about buying and holding long term rental properties.But I’m in a really messed up situation right now and looking for suggestions what would be the best approach to my situation in order to scale quickly. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

This is the framing for my approach, also.

Kudos to him for doing it, but his rules and his dogmatic approach is also the same thing that made Open Door Capital a horrible venture because they skip over being pragmatic.

If so, I am curious the thoughts and drives behind that, like, maybe really wanted exact answers to you so thought posting on your specifics was best approach? 

Also, be honest with yourself that the approach you describe is intended to take advantage of people who just don't understand what a terrible deal you are offering them. 

We really like their approach and communication has been timely and meaningful.

However, for the purpose of a healthy and helpful discussion, I invite you to the the do the following exercise to get the facts first:1.