Guys,Got a 40 unit almost locked up in contract. 7% CAP using TTM P&L.

I found a highly motivated seller, she was so motivated she offered me another property alongside with the one I initially inquired about, so I locked her up for an appointment Tuesday.

lock changes?

Once it's under contract, it's "locked up" so then you can move forward with the other stuff if you need it.  

For most syndications:LPs will have no liability (other than loss of contributions) and you'll want to check the liability of the GPs;LPs will make initial contributions; and you'll want to confirm if LP is on the hook for any additional contributions;Distributions will ensure the GP/operator gets their cut (I'd want to know what that cut is), then to LPs in accordance with their percentage;LPs will agree that they cannot transfer their LP interest without the consent of the GP - you're locked in to the deal until the GPs end it;LPs will have none (or very little) rights to vote on operations, and GP has control.The above isn't an exhaustive list of material concerns you might have as an LP, but it's what what I would expect and confirm for any syndication. 

You can try to lock people out, or take them off the lease, or even make notes in their record.

I would use this option if your plan is to hold for 3-5 yrs and then 1031 into something larger.If your going to hold these units I would do a cash out refi and lock in the debt for 30 yrs.

It locks you back into a 30y note on hopefully a much lower rate!

Any suggestions on banks looking for this type of portfolio loan scenario, and willing to lock in for 20-30 years?  

We are actually in the process of working on locking up and ownerFi MH/RV park.