Note - if your place is so high end you have a landscaper install a backyard pond or waterfall, that's an improvement.

It’s more of a locals town, lots more waterfalls, and the downtown has a little more substance to me.we bought in Nov 2022 for $365k, and are on pace to gross $55-60k with our first rental.https://abnb.me/KOuWo7B1CBbI have found in this market, the smaller the place the better occupancy is holding up.

Have you considered a tiered waterfall structure?

Waterfall Distribution MethodA waterfall distribution method refers to where cash flows first.

If you invest cash into the deal too, treat your cash just like your investor’s cash, you receive the same waterfall pro rata. 

@Curtis RouseHi Curtis, would you be willing to share your waterfall?

What are the criteria to look for and what questions to ask the attorney to see if they are good and up to speed.With CPA also, what questions to ask to see if this is a good CPA and is up to speed with the current law.What is the typical fee from attorney standpoint for a deal this size, to do closing, psa, waterfall agreement with 2-3 other limited partners.Any other thoughts, input, would be really helpful.

our leases have a "water fall" provision that states that payments received are credited in the following order: 1) late fees/penalties 2) utilities 3) rent.  

You should also hire a consultant to help market your track record, develop a fund model, handle investor relations, waterfall calculations, etc.

I've been reading about the "Waterfall Framework" for establishing equity between people working together in real estate acquiring businesses.