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.

At least with a typical waterfall structure. 

Be mindful of your tone, and try to convey your message calmly and respectfully.Practice active listening - Effective communication is a two-way street, and listening is crucial.

Rain water falls off the roof and over time you will get dirt and mud splash up on the walls.  

Once you set the expectations and put some ownership back on them, they'll either calm down or take up your offer to leave. 

Key thing is you must remain the definition of calm NO MATTER WHAT.

Maybe things will calm down if more jobs are available.

They become this fiend, this villain that could destroy you and is probably the hardest phase of all the phases.It is during the MOVING PHASE, that you must be cool, have all your wits about you and be prepared, yet still be cordial so as not to enraged the monster that seems to be lurking in your Tenant during the MOVING PHASE (as there is NO ANTIDOTE to calm the savage beast once it takes form).

The first generally will be the ones sailing the historically calm rising tides thinking they are way more skilled than lucky. 

Some common fees that sponsors get are a certain percentage on the buy side, another percentage or fee to manage it and another percentage on the sale.Then you’ve got what’s described as a “waterfall” profit sharing deal.