Acquisition fee 2.95% of purchase price of assetDisposition fee 1% of sale price of assetAsset management fee: 1% of equity raisedFund admin fee: .25% of equity raiseTheir waterfall is 70/30 split until 13% IRR then 50/50 

Water falls, 8% prefs, or certain percent on sale/acquisition/operation.

I used to set my calculations on the optimistic side but it has helped me a calm my nerves when I know the least I will cash flow

One of the key things to do here is to keep calm and avoid creating any enemies. 

I point this out because too many developers are overly generous at discounting the value they add.Even if it means the distribution waterfall is less favorable, these fees allow you to hire people to help scale your real estate investment business.

Having a letter from an attorney might calm him down.

I know the stock market is reaching new heights and supposedly millions of new jobs have been created, but this weird thing in my tummy is not yet calm, so I will give it a little more time. :-)

Would love the opportunity to talk and meet up if I make it into Omaha sometime in the future once the virus has calmed down.

Check on things in general and stay calm and cool.   

@Will Barnard As always, Your calm manner and patients is something to be admired, studied and duplicated.