The syndicator is trying to offer high split to investors on upside to get going.I have seen say a 65/35 split sponsor but property is 50 million going in and has upside equity growth of 20 million so sponsor could make 7,000,000 back end promote.Smaller property deals 50/50 is common for seasoned investors as sponsors.

However, if they can just work Indianapolis, that would be good.The scenario is as following, and not sure if it's possible: I'm looking at acquiring a few SFHs.

And another scenario: husband works with a 527 score; wife doesn’t work and similar score but they have someone who plans to move in with them that works and has a 650 score. 

And another scenario: husband works with a 527 score; wife doesn’t work and similar score but they have someone who plans to move in with them that works and has a 650 score. 

I am not really sure what he would charge in your scenario.

I also want to add that in deciding whether or not to take the HELOC you need to look at your worst case scenario and what runway you will have to get out if things don't go as planned.

I've read the law and am not able to interpret it clearly, so I'm giving the scenario in hopes for a clearer answer/explanation. 

As a rule of thumb, make sure you could cover your expenses if vacancy were 2X the typical worst-case scenario.

If you give me a scenario I can share my thoughts on it

Rules might have changed but I would rather you manage your expectations about the most likely scenario as a young enlisted person.