Otherwise in a normal deal, I am under the impression GP would find an investment, offer say an 8 pref, 80/20 til 12% then 60/40 thereafter, and the GP would hire a management company who takes say 5% to manage the hotel.

Wow I'm really impressed with West Palm Beach. 

@Kurt GranrothSyndication is such a fancy loud word, quite handy to impress your friends, but really all you have for taxes is a Form K1 from the partnership.

When I speak to good folks like this, it's usually concluded that they got the impression that NI is somehow easy to do and will bear massive rewards in short order.

Less impressive but more accurate.

I am mega impressed that you have the plan you have and that you have found this site!  

I was under the impression that you were bidding in 5000.00 increments only, so 36,901 means paying 40,000 or bid 35,000 and wait for a call to negotiate.

That's truly impressive.

If you put a deal or two under your belt that impress people, networking becomes easy.

There was a definite arrogance in the air, and I think they assumed I was a lowly assistant because they were almost trying to impress me with their “knowledge” of how they could legally enforce this chicken nonsense.