You never know if dropping $100/month entices someone. 

Now, some commands may be more lenient then others, but it can be an issue for career service members.I've had clients in the past pay a significant buyout rather then just breaking a lease (even though there was just cause) to avoid any derogatory marks that may affect future promotions.

Here is what we are assuming:90 % LP / 10% GP capital infusionPari-Passu to an 8% preferred return10% promoted interest to the GP over the 8% return, making it 80% LP / 20% GPAny other recommendations on how to go about it?

Self-promotion is not allowed on this sub-forum.There are two or three tax pros from the Atlanta area that are active here, as well as CPAs and EAs that work remotely. 

A typical example would be to pay investors a preferred return before paying any additional split to the sponsors.Think of fees as one off (acquisition, disposition), fixed (asset management) and variable, based on performance (the promote).

Since NNN deals are flat and passive is it common for the sponsor to take a promote?

The failure to get security deposits was a huge red flag because it showed both that the apartment recently had a significant number of vacancies and the seller was so desperate to fill the vacancies so the property looked more ideal the seller enticed tenants to move in by not asking for deposits. 

All these comments promoting socialist style landlording, I say with absolute certainty they have 0 experience landlording or near to 0, because anyone with even novice level holdings and experience would never chastise someone for seeking fair market rents and offering a person a considerable discount from fair market in empathy for a 2decade+ rip-off that ran un-checked.

He could easily have sold everything to a retail buyer, but he the extra interest (5% and 4% respectively which is low for owner-finance) was enticing and really, I think he liked me.

If they are brand new syndicators, I'd expect to see a lower GP promote/fees.