There are also additional costs to be mindful of when transferring title into an LLC even if your lender is accepting such as your case.

They aren't as strict as a conventional lender and is what alot of investors use to scale up like what your trying to do.

Now that I've been able to build a portfolio I get a little more enthusiasm from agents compared to when I started.

I am curious if the fees I am being presented are in line with market norms:lender app fee: $10,000Origination fee 1% ($20,000)Lender costs: shows a fixed amount at $10,000processing fee $895registration fee $10,000Title and escrow fees: $4,000 est.6.5% rate fixed at 10 yearsPrepayment Penalty: Yield Maintenance months 1-114 (1% minimum)Third Party ReportsApppraisal Required Engineering Required Environmental N/A Seismic Report N/A Market Study N/A Funded EscrowsReal Estate Taxes Required Prop/Liability Insurance Required Special Assessments N/A Ground Lease N/A Replacement Reserves N/A Required Repairs TBD Debt Service Reserve N/AWould love to hear your thoughts on this as well as what you think is appropriate fees for the freddie mac sbl program. 

My realtor is also a Lender and we worked out a deal

For instance these are what I call executive properties with many top of the line extras, in a prime location, and they were compared to older out of date homes in areas that are ghetto and gang infested.  

I was just comparing what your syndication would look like using the figures you mentioned with the typical US syndication and assumed that the returns would be lower.

I see that most/all lenders include vacancy in their calculation, whereas the other two expenses are sometimes included - depends on the lender.

If you're looking for hard/private money I can tell you that most lenders would want to be at least in driving distance of the property if anything were to come up.

If you have the 80% LTC loan, keep in mind that the lender will likely require anyone with a 20% or more interest (that's going to vary from program to program/lender to lender) to guaranty that loan along with you.