Something like an 80/20 split, but only an asset management fee, and no waterfalls (look up what that means).

Is the point that I am double dipping, i.e. that the GP participates as an LP with 20% equity then also gets the bonus waterfall splits?

It’s called a promote/carried interest and is part of the investor waterfall.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

Would this rental scheme be something that would have to be disclosed during the waterfall process prior to kicking it over to a short sale?

One of the key reasons has to do with the IRR return waterfalls that are created with shorter time holds. 

@John BlantonNumber of partners is less relevant than the type of business, whether any partnership allocations need to be done, waterfall allocations, any accounting adjustments booked, etc.

What do you think will happen to equity holders who are further down the waterfall?

I feel last weeks unemployment numbers are just the beginning of the waterfall. 

It looks like traditionally, FHA loans go through a "waterfall" from forbearance, to repayment plan, to loan modification, and it would appear this is largely at the discretion of the bank.My understanding of the CARE act is that it only mandates forbearance.