The lender may have calculated the NOI differently.

It's different in the US where you can lock into to a 30 year term (ie. the rate doesn't changed over the entire life of the mortgage). 

When vetting a syndication, different investors will do it differently... because every investor comes from a different financial situation and has different goals and risk tolerance.

In that time I've used several different funding options.

This is no different from not receiving a 1099-NEC for some contract work: even without a form, you must report the money you received as income and pay taxes.Final disclaimer: there's more to these rules than I mentioned, and there's room for interpretation in many situations.

The third-party Note Servicing company would take the buyers payment and pay the underlining lien and pay the wrap seller the difference.

I do explain why and how agent's get paid and what their job is to the buyer so that they understand the price difference.

But is it a totally different beast?

Or is there a different system I should implement?

Been a Special Education teacher for 25 years- trying to retire and have studied real estate investing... realize I cannot do my own flips after buying my forever home after the hurricane... but that is a different story!