If the cash split, or waterfall, is 70/30 then the LP investors would get their pro rata share of $700,000 and the sponsor will receive $300,000.Sponsors also make money from fees and often by rolling those fees into the deal as LP equity that greats treated the same as other LPs. 

Stuff that seems calm at 2pm can get pretty crazy any 11pm.

stay calm cool and collected .

I thought about 12000 gallons total will be allowed, and anything over that they will be charged the overage.Thanks Andrew I had the same thing, I literally had a $1000 waterfall present itself and I was floored!

Also when I posted, I was pretty angry, Ive calmed down a bit...but that doesnt mean my buyer doesnt complaint to the real estate commission or their broker.

Last time I rented I had a waterfall coming through my ceiling for 2 weeks before they moved me to a new apartment.  

@Mindy Jensen thanks - I've calmed down a bit... just putting it on the already lengthy list of "this will be a great story someday".

Maybe you can either calm me down, or tell me I am rightfully enraged.We have an FHA buyer for a rehab, and among the hoops we've jumped through so far are the requests from an inspection plus two FHA appraisers (actually not a big deal, just time-consuming).

I have a case number and I am trying to remain calm while building my harassment case.

I agree, these loans will not be available directly from the entities that purchased them from Freddie and Fannie, however they will funnel down through generations of the waterfall and land in the hands of the street level investor.