A good tenant in my book is one who is polite, considerate, communicates openly and honestly, follows the terms of the rental agreement, pays rent on time and takes good care of the place.

ROI would take into consideration if you used financing.. 

termite consideration, wiring installation....

At the same time, I'm a bit concerned that if we set a precedent of splitting deals as GPs (with equity based only on financial consideration but no consideration for putting the deal together), then that would not be the proper incentive for me (or someone else) to do the principal work of finding, negotiating, and structuring the deals.What is a fair and smart way to proceed? 

And I strongly suspect that Tenant Alpha ALREADY let his brothers move in a few months ago, without first getting our permission and approval of the new occupants, which may be why they stopped paying rent at the other place.CURRENT QUESTIONS AND CONSIDERATIONS: This house will remain a long-term rental buy-and-hold, and since there are a lot of things that make these tenants undesirable to most landlords and lenders, I believe they likely won’t be able to find anyone else willing to sell or rent them a place … which means they’ll likely stick around long-term and pay timely.

After all of it is taken into consideration, if you still think it makes sense to syndicate go for it.

Whether you call it option consideration or a down payment, it's really the same.

@Jeremy PaceThanks for the input, I've taken all that into consideration.  

Sometimes staying put with your original offer (and adding a couple of hundred) might work for you for your consideration.

Yes, you can probably reduce cost of sales and perhaps other numbers but you cannot significantly reduce rehab costs and there will always be surprises which will burn you if you do not have sufficient funds set aside.Flip considerations• Typically, lenders will only finance properties that are already livable so financing damaged properties can be a challenge.