Of course i will use the caveat that "it depends" but typically yes the $50k investor would get 50% of the promote of 70%, which in this case is 35%.

😀Yes you are correct the promote is the GP share of the profit. if you were to partner with this operator, you don’t get ALL the promote as it is split among everyone in the GP team. 

Then when you don't have the money for them they coerce you into getting credit cards to fund the program they promote at the seminat ,promising you you're going to make a ton of money so don't worry about the amount of money your putting on credit.

Here are some pointers to help you get started:Networking: To promote your new business, make use of the relationships you already have in the construction industry as well as your current professional network.

Then when you don't have the money for them they coerce you into getting credit cards to fund the program they promote at the seminat ,promising you you're going to make a ton of money so don't worry about the amount of money your putting on credit.

However, I am not a promoter of investing in rental real estate within retirement accounts, specifically SDIRAs (unless, of course, the situation prohibits alternative options), to begin with; there are downsides that compromise the tax benefits of the investment (loss of depreciation and other deductions, potential UDFI, loss of preferential LTCG treatment, etc.).

What are you trying to accomplish (buy/sell/promote??) 

But if the effort that went into promoting it for inclusion in the 2024 legislative session was not successful, it makes you wonder about the issue's traction in the future.

And just because of that Id be highly wary of anything he promotes......

(And, beware of promoters that are selling captive insurance as a tax-shelter; not saying that they none of them provide the purported tax benefits - just that you need a captive insurance tax expert help you make informed choices.)