Most LPAs are structured that partners are "accepted" upon execution by both parties.  

I always recommend checking with an attorney before executing any types of contract to include any protection clauses to prevent exactly these types of situations.

@Shant MahserejianDoes this look like something you might be looking for:Entrepreneur• Building an Elite Organization Book and Journal (for up to 4 team members)• Custom Deal analysis and valuation tools• Tickets to annual AIIH event• Express Closing (within 5 days for single family, within 10 for multifamily)• One Time annual Underwrite• One Close Loans• Multifamily Debt placement• $2.5MM Line of Credit, proof of funds letter, lower pricing, and greater leverageProfessionalAll Entrepreneur Membership benefits plus…• Dedicated Internal Operational Team• Priority Transactional Review• Elite Event Invitation with discounted rate• Quarterly Training/ QA with DLP business unit Leaders• Elite Execution System Ramp up Package• $10MM Line of Credit, proof of funds letter, lower pricing, and greater leverageElite ImpactAll Professional Membership benefits plus…• Express Loans without holdback• Impact JV Equity Opportunity• A&D Funding• $25MM Line of Credit, proof of funds letter, lower pricing, and greater leverage• Greatest speed and flexibility for “out of the box” deals.Let me know. 

AND, I learned real fast, mostly from hearing all his conversations and tagging along as he looked at deals and executed the process of the flip. 

I am excited to see it executed and we will definitely need to write a success story highlighting your real estate journey. 

Anyone have experience executing this type of transaction? 

Would say your best bet is Multifamily Millionaire Volume II, it's about buying larger multifamily deals and how to go about executing it.  

My question is: Can I still execute a cash-out refinance on the property if I purchased & renovated using all cash?

Generally they do want experience and for you to really understand the business before executing theirs. 

We were inspired, though, by Paul Graham’s essay Do Things That Don’t Scale , which is a cogent argument for using founder time in the early stages to perfect systems before temporal demands grow such that that focus is no longer an option.This year we are taking that advice to heart by focusing wholly on what we personally can do to ensure that our prospecting, acquisition, and project execution machinery is firing on all cylinders.