I'm sure BP would promote the piece, as well. 

New name (for promotional purposes), same strategy. 

It's definitely possible to have one investment partnership that has an LP/GP preferred/promote structure, and have that partnership invest in another deal that also has an LP/GP promote structure.  

I have seen a course but I have not seen or heard of a person say they actually did this except what the course promoter and what you people have stated.

"In what may be a precursor of thing to come throughout the state, the Sacramento Bee is reporting landlords are increasingly using flimsy pretexts to begin wholesale evictions of low- and moderate-income renters from apartments so new owners can charge much higher rents to more affluent tenants or convert units into high-priced condos.This is promoting of tightening of the California already tight rent laws and the appeal of the Ellis Act Read on"http://www.sacbee.com/news/politics-government/dan... 

So, in all of the deals we sponsor, we structure our promote in both cashflow (after a hurdle) and capital events, so we are aligned with our partners' goals.  

If you are doing a GP/LP structure (with a preferred return) - cashflow is distributed based on ownership stakes, then GP promote kicks in once preferred return is met.If you are doing a GP/LP structure (without a preferred return) - GP promote is taken off the top of cashflow distribution, then LP ownership stake kicks in.If you are doing a JV structure - everything is split based on ownership/capital contribution If your goal is to syndicate real estate, you definitely want to become very knowledgeable in how splits/promotes/fees work for GP/LP structures. 

I would put knobs on the kitchen cabinets, but that's my opinionAre you selling this house or are you promoting your business?  

To add to Charles Parrish post, you should be a little loud about your deals, self promote.

GP's compensation (aka fees and promote):These are tied to the deal's performance as well and are always disclosed in the GP's Investment Offering, and deal's subscriptions documents (PPM and Operating Agreement).