While getting them separately metered is financially unadvisable, you could always structure a payment method where you determine the square footage of the garage and that of the house, then figure out what percent of the total square footage garage is, then tell the tenants that they are responsible for the percentage of the house.

Some HML lenders will loan a percentage of the value.

“What percentage of collected rent do you charge?”

Sure, you can lose money, but it is usually a small percentage of your initial investment.

In terms of investment return potential, using less cash for an investment would bring you higher returns on that investment from a percentage standpoint.

@Stephen WalleyAnswer is It Depends on what the PPM and operating docs say.Some operators take the LP investors out of the deal once all capital is returned.Other operators keep the LPs in at the original ownership percentage.($1M raise $100,000 investment on a 70/30 deal, that LP owns 10% of the LP part or 7% of the deal.

Because a large percentage of the charges are base fees that do not change based on use!

I am willing to wait through LDP and most builders will want a tranched takedown.What is the normal percentage of hard money down for a phased takedown? 

It’s a hand holding service that should not be based on a percentage of your assets.

Did you know Chicago just rocketed up from 7th or 8th to 1st in percentage of residents with college degrees out of the 10 largest metros in the US?