While I am not super well versed in the RV park syndication world (although Axia does own a couple within their first fund), in general more and/or higher fees = WORSE for LP.I would love to see more about this deal, but based on a quick scan here: https://www.parksandplaces.com/campgrounds-for-sale/ looks like average pricing is in $5mm range.$5mm PP = $250,000 acquisition fee, let's assume they are raising $2,000,000 in equity for purchase and upgrades, this means acq fee is really 12.5% of equity.Loan Guarantor Fee: $5mm purchase, let's assume $3.5mm loan.  

I know you can easily get those numbers further north, but the cash flow just isn't there based on purchase price.  

Based on reading relevant state tax instructions, tax code, feedback from other investors and CPA's, I'm tracking unallowed passive losses at the state level for states which otherwise do not require unallowed passive losses to be filed on state returns or for which they are not disallowed.

And doing it on the internet is crazy.. granted some good CpAs have chimed in.. but you need to spend some money and get these answers from an attorney who specializes in these and then a CPA who understands how to set this up as well.at least IMHO.. pay for top notch advice it will be worth it in the long run. 

Its all over the internet, so easy to find. 

Thank you for your service.

Most importantly, it helps you future project anticipated equity, cash flow and net worth based on whatever variables you want to input for things like appreciation, rental increases, loan terms, etc. 

For my US based flips/BRRRR's contractors are my bugbear. 

I'm here to learn from all of you, share my experiences, and hopefully collaborate on exciting projects.If you're ever in need of kitchen remodeling advice or services, or if you'd like to chat about real estate in general, please feel free to reach out.

First, if you spend $450K to add a unit, it doesn't sound like you are adding $450K in value based on the comps for a 3-unit property.