It should have a boulder-lined pool to match with a boulder-lined grotto and cliff with a waterfall that you can jump off of.

While I generally agree with Chris in the passive vs active role, I too have heard varying definitions of where the line is drawn.As for your "just form a JV with majority ownership", I believe you can still create a waterfall structure in a JV, which is often more advantageous to you, since a straight forward "majority ownership" also means you would own a majority of losses.  

@Chris Collins, honestly it also depends on how the waterfall is structured, and how each individual views it.  

I have searched Google for options, but most of them are geared toward multi family, which is a different beast.I'd appreciate recommendations for a system that can be used for the following:- Multi tenant warehouses- GP/LP returns- Waterfall structures- Staggered lease renewals- Calculating investor returns for different classes (eg preferred equity V common equity)Thanks in advance!

I have searched Google for options, but most of them are geared toward multi family, which is a different beast.I'd appreciate recommendations for a system that can be used for the following:- Multi tenant warehouses- GP/LP returns- Waterfall structures- Staggered lease renewals- Calculating investor returns for different classes (eg preferred equity V common equity)Thanks in advance!

It's an old house, 1830 (not really with a mean view, but you can hear and kinda see a waterfall).

I have more to say than I can in this forum but I’ll give you an overview of a few of my thoughts…To raise capital, You can either be a spear fisherman or a grizzly bear standing in the waterfall.

The perfectly designed pool features a 'baja bench' and waterfall.

Waterfall structure would consist of a ~1.15x EQM preferred return with a 50/50 split beyond. 

Many syndicators use what is called "waterfall" with preferred returns for the Limited Partners but if the deal does really well, the bulk of the profit shifts to the syndicator.