I've heard stories about people saying because they source the deal and manage the properties, they get 50%.... 

All of my cycling friends are highly motivated people.

Never sell yourself short you have more properties under your belt then most people in their 30's.

Capacity - The parties must intend to engage in a legal relationship and be legally bound by it.

While this is always a possibility, the reality is that VERY few people will actually trash a place.

Therefore, it seems this would be specific to the assets you have in your property.So a one size fits all percentage would be impossible to come up with.If people could put a percentage for the bonus depreciation there would be no need to complete the cost seg study.

Doing differently would be an opportunity cost.General partners of real estate funds are usually people who has a solid track record, able to provide the tax benefits, LT equity and cash flow you talked about.

Also set up some alerts for your local city names, so when people talk about your area, you can jump in and meet people.

People stop paying rent, emergencies happen, people go to jail, and the list goes on and on.

I think people look at real estate the wrong way and want the loss to offset their W-2 income.The first and most benefit goal with real estate is that your cash flow and appreciation is not taxed.if you are making 8% from cash-flow and appreciation and it is not taxed, imagine how quickly your wealth can grow.If you can offset the rental loss with your income income, that is just icing on the cake.