I'm currently very frustrated that it's not among the rest of the "Water" related files.  

Study the language in the operating agreement very carefully because waterfall terms in operating agreements can be confusing and it isn't difficult for sponsors to hide onerous terms among the fluff.The way the waterfall calculations should work is that you receive 100% of all distributable cash (divided among you and the other investors pro-rata) until you reach the preferred return hurdle. 

All of which I believe are among the most germane factors when considering viable buy/hold investment properties; that is aside from the usual "numbers" to be considered of course.

Look up your representatives for your residence as well as where you have property: https://app.leg.wa.gov/districtfinder/Among the most serious issues are: SUBSTITUTE SENATE BILL 5600: http://lawfilesext.leg.wa.gov/biennium/2019-20/Pdf/Bills/Senate%20Bills/5600-S.pdf1.

Is there a way to acknowledge that we are indeed here are on BP, though getting lost among the 99%, and make it easier for us to come together in an elevated environment designated for us?

If you and the other "active partner" will be managing the project, you can ask for a "management fee" type guaranteed payment.The rest can be split based on capital percentages.Again - it really depends on what is negotiated among the partners.You can think of in another way, you know the person who is putting the 50% with little participation, what is his expected return on the investment.

There are clearly exceptions to every rule, but I don’t find the agent pool in general to be among the sharpest tacks in the box.

That said, some of the markets you mentioned on your list are among the top markets in the country right now (and by virtue of that, have low cap rates!). 

I would add into my lease that "landlord pays water up to $100/month, tenant pays anything beyond that" and divide it evenly; or just say the water bill is divided evenly among the units.

Even their 3 bedroom ranch homes are money makers as the market doesn't really respond to construction... and they are among the lowest priced new homes in the market.