After the "loan" piece was repaid, it switched to a more normal LP style deal.I wrote it all in past tense, though I'm actually still in it, having gotten most of my principle back.

Then I started looking for "off market" properties using the same principles.

You can’t deduct principle payment back, you can only deduct interest expense portion, but you have to pick up interest as income, so there is no benefit. 

If that agent (or co-conspirator might be more like it) doesn't actually intend to follow through on the offer, that seems to violate the principle of fair dealing.  

I'm also investing in Ohio from afar with the same general objectives, so please feel free to DM with any questions and I'll do my best to point you in the right direction. 

for example:market rate today: $215,000Market Rent: $1550My thoughts are to do a 3 year lease option for a final price of $215,000. i would charge an initial option fee of one months rent $1550, rent of $1550, and a per month to principle of $250. my thoughts are that though they would be paying $1800 per month for a rent normally $1550, after the 3 years they would have the $1550 + $9000 (36 months * $250) for a total of $10,550, or just about 5% down towards the purchase. my thoughts are that way even if they are poor at saving, they at least will have enough down for a conventional or FHA loan, not including the fact that the value of the home will likely be greater than today.is this unreasonable to ask?

for example:market rate today: $215,000Market Rent: $1550My thoughts are to do a 3 year lease option for a final price of $215,000. i would charge an initial option fee of one months rent $1550, rent of $1550, and a per month to principle of $250. my thoughts are that though they would be paying $1800 per month for a rent normally $1550, after the 3 years they would have the $1550 + $9000 (36 months * $250) for a total of $10,550, or just about 5% down towards the purchase. my thoughts are that way even if they are poor at saving, they at least will have enough down for a conventional or FHA loan, not including the fact that the value of the home will likely be greater than today.is this unreasonable to ask?

Hi,Is anyone currently acting as a KP on syndicated deals or has done so in the past?  I am curious how one would look/underwrite that in terms of investing? what risks do you look out for in order not to do a deal?  ...

So you could say "135k, minus closing expenses at closing" which gives you the principle from those payments.

I have met the principle for the management company.