There’s not many LPs that will also fund a million dollar deal and a 20 million dollar deal, and have no time horizon.

@Brad Larsen, Good post, which has stimulated a lot of good thought! 

Aside from that, network with other LPs to get a sense of what other are investing in and looking for in a deal.

Those numbers run about 16% higher.I'd speculate that these are some of the reasons: We can expose it to more potential buyersWe are better at marketing and negotiating than a laymanWe have tricks of the trade to stimulate a bidding war (I've recently sold properties at $42K and $46K over asking - and I got one of those buyers to waive his home inspection!)

Most experienced LPs are looking for 80/20, high CoCR, preferred return, lower asset management fee for large deals, and other things. 

For example:Do you want to see a provision for LPs to be able to replace a non-performing GP?

These gains should stimulate housing starts, which stepped back during the third quarter.

For the LPs, we provide tax strategy and compliance.And thanks @Brian Burke!!

Other 50% to LP(s), but each deal will have different LP(s).

Please note that my analysis is nothing more than speculation intended to stimulate discussion amongst the BP community.