How should partnerships count the doors owned?
I’ve recently heard quite a few authors and speakers say they own a huge number of doors (like 2,000 or 3,500) yet the details seem to omit all the partnerships - GP, LP, or JV - and fractional ownership of the deals. While I think we all agree partnerships are smart business, it feels a bit disingenuous to claim all the doors on a deal and not the fraction of equity really owned. 
For example, if an author is a GP or LP with 10% equity on a 350 unit complex, I would say they own 35 doors - and not claim to own 350. 

For all those in partnerships - how do you count your doors owned?
[{"id": "fo1iupf", "text": "I would count them all.\n\nGP has the most rights for sure, and runs the show, but those LPs can have significant equity into the projects and I would assume use the larger number when talking to other investors.\n\nAlways use the larger number is what I was told.\n\nI worked for a real estate company that had hundreds of thousands of doors under management.\n\nWe never said, we\u2019ll our LPs have X equity and so they have this % of doors, whatever.", "replies": [], "depth": 1}, {"id": "fo1k14v", "text": "People typically use the larger number to show experience managing these assets. If you\u2019re an LP that\u2019s different. I\u2019ve seen GPs who syndicate hundreds of units have less money than small landlords who own 100% of 15-20 units. Point is- it doesn\u2019t actually matter and you never really know or can tell somebody\u2019s true experience and/or money on the line.", "replies": [], "depth": 1}, {"id": "fo32ebz", "text": "Yah, or I own a million dollars of RE, really? so like a house in SF? Or you put in like 50k to a syndication?  Pfft.  People are always self-aggrandizing, and if you use numbers like doors, NW, or other numbers to vet someone, it's likely a bad vetting process.", "replies": [], "depth": 1}, {"id": "fo3nl1e", "text": "Unless you're using that number of doors to sell something, who gives a shit ?", "replies": [], "depth": 1}, {"id": "fp18h3o", "text": "As a lender, I prefer to see \u201cI own X doors\u201d (meaning you own the property entirely or own a significant majority) and \u201cI\u2019m passively invested in X doors\u201d. \n\nAt the end of the day we\u2019re going to get your SREO and know exactly what your ownership percentages and roles are anyway.", "replies": [], "depth": 1}]