Simple is better, especially if people don't have experience with waterfalls -- a confused mind says no.

I love Thailand, its been a few years now since I been over there but looking to come back as soon as COVID calms down a bit. 

"a local rep within 60 minutes of the property"Yes, you can get a PM to handle that I guess, but that's a big price to pay for something so simple.Since it's usually to get your guests to calm down because of noise or other problems, I'm thinking you can minimize the risk of this by:Adding quiet hours to your listingAdding a fee for disturbancesAdding a noise/dB meterNo partiesNo large gatheringsAge reqreuimentsCommon sense screeningBut even then, you still need to have a local contact just to get the permit.How do y'all handle this if you're far away and not within the distance/time requirement?

Try that tactic instead and see if it calms her down.

There are 7 different things that can constitutes elder abuse,  only 3 or 4 of the action need to happen for it to be a criminal offense. ( oh it makes my blood boil how do you mess with the elderly animals or kids ) sorry I'll try and calm down, any way that's the first thing you need to do because she can't be at grandpas in long beach and the la co jail down town la. 

I've dealt with cases where one partner thinks they agreed to a simple split, but the docs written up discuss an economic waterfall that is contrary to what they thought.  

So as the title states, I just landed my first deal. 120k property, appraised for 128k and I will be adding new carpets, paint etc - just some light rehab. Mortgage, taxes, ins, etc will be about 1k (requires flood in...

.#8-Avoid any Private Money Lender who balks at being vetted, investigated or who wants you to simply accept their word with a handshake, a smile, a reassuring phone call or a calming email.

If the waterfall is used, then it will start at a lower split for the GP and then gradually increase based on the IRR achieved.

My concern as an investor in such a deal is that first you probably didn't underwrite correctly, and second that you structured the waterfall such that I receive all of the profits and once you figure that out you'll abandon the project and I'll have to take over and finish it.To avoid that perception, and potentially that reality, you should consider structuring your offering with terms closer to market and triple-check your underwriting to ensure that you are underwriting conservatively, with full awareness that conditions today are about as good as they'll ever get and when things get worse you can not only survive, but produce a result somewhere in the same universe as you projected.