One thing to be aware of is if you invest in MF deals a typical waterfall may be 6 or 8% with a 70/30 split, (70 to investors), in notes it is usually the opposite as there are lower management fees involved and lower expenses as most of the management is done by the sponsors team and if they were only to collect mgmt fees it would not be worth their effort.

I truly wish I had a mentor/guide that could help calm my nerves.

I was calmed a bit by having about a third of our people on section 8 and/or  guaranteed fixed incomes like ss or military retirees or disability. 

Complexity may depend on if you have equal ownership or have a waterfall model

Duplexes in my area have skyrocketed and I would rather buy right instead of over paying should I just wait to see if the market will calm down in my area?  

From a sponsor's perspective, regardless of the source of the capital being sent, it will effect the investor's overall return and move the needle as far as a waterfall is concerned.  

Hopefully things can calm down at some point in the next six months before my lease is up.

We have given one client their money back so far.. had come to Jesus with two others that are now calm..

However, I needed to get an LLC and didn't have time, so I approached my circle of potential private lenders again, but this time, because I was better at showing the numbers and calmly clarifying the value of the property I had on the hook, I not only got the private funds, but I had three different people offer backup funds if needed.You have to (1) Have the deal, (2) show credibility and expertise on the process of buying and rehabbing the deal, and (3) Know how to sell others on the deal. 

It is always easier to ask the tough questions in a relaxed, calm environment, than before time where seconds matter most..Fire Department:Fire, flood, blood, heat or hot water.