As far as your question, if one of the 4 partners wants to do an exchange, we would need to have the partnership deed out that partners undivided interest so that the exchanging partner becomes a tenant-in-common with the non-exchanging partnership.

Or they can put together their own partnership or syndication.

The financing portion of the partnership is under control and we're consulting a lawyer on how to take title and the JV agreement, I was hoping a few knowledgeable souls would chime in and let me know how they've accomplished this in the past to ensure we're on the right track.

This complicates things only slightly as depreciation needs to be kept track of for the Traditionals since there is tax implications when withdrawals happen some day, and there are not with the ROTH SDIRA since no taxes are due upon withdrawal.One of the main reasons we did a 3 way partnership is that we all knew we wanted to have more than one rental as opportunities presented themselves, and felt our joint funds could better accomplish this.

I especially like that you're taking advantage of the power of partnerships to achieve your goals.

It's a 'partnership'-ish.

A solid partnership/operating agreement is a must and should spell out all the details you two agreed upon.

Two creative financing methods I would like to explore are partnerships and seller financing.

Now, I have raised pretty big kitty(especially for my market) but the some of these folks are wanting more of a equity partnership vs a set 10-12 return.

I'm no attorney (get attorney advice), but passive investors should be the limited partner of a Limited Partnership, not an LLC