So if you go under contract at 160 and it appraises at 150, you need to come to the table with that 10k or you and seller have to agree to split it (they lose 5k and you give 5k), or the seller has to come down.

I am curious though if you have thought of going at this by yourself or if there is a specific benefit this partner brings to the table that you need/want as part of the deal?

Now if only I could find a 100+ unit mobile home park to bring to the table. 

My first approach was to increase capital contribution of the original investors by 20% in the cap table, but this is wrong and causes issues with taxes and later disbursements. 

You want to bring something valuable to the table that will make them see you as an asset rather than dead weight.

It took some convincing as they thought this might be some sort of trick, but it has greatly improved our relationship and they have explained to us how they were struggling to put food on the table.

You cannot accept more under the table from them, nor can you forgive them their share.Reality check here. 

I feel I’m fortunate since I hear the horror stories about lenders not funding at the closing table.  

Over this term, I will have higher returns due to property appreciation, lower rent losses and will be insulated from downside risks during recessions and crisis times.A couple of years ago, I consulted a real estate investor for optimizing my mortgages and he said that I was too conservative and leaving money on the table.

HOWEVER, a 3.5% FHA or a 5% Conventional loan on a small multi-family home is still on the table for me, right?