See if that motivates her to leave or at least gets her to calm down.

But, still have a waterfall where the payouts would be completely different than the ownership.

In fairness, that one was young and I hear they do calm down some when the're older.  

Another way sponsors achieve similar results is to have a tiered waterfall, so say LPs get a 80/20 split to a 13% IRR then 60/40 to 17%IRR then 50/50 etc.We have done tiered waterfalls in the past but like to keep things simple.Our Multifamily fund II waterfall for LPs is a 8% pref and 70/30 split all the way.

Something I haven't personally done, but have had my other clients do is setup a waterfall structure. 

To the level of certainty of security of these, so too does a person experience levels of calm. 

Ive heard of horror stories where foreclosure homes were not winterized and a realtor goes to show it with broken water lines in the kitchen leading to a frozen waterfall effect and all the mold and destruction that ensued. 

If you're in a position where you have to push, confront, cajole it's usually a losing battle.If you paid a decent amount up front then your best bet is to be calm, diplomatic and try working with him, which usually means spending more money and time than anticipated.

In most cases where the tenant is fighting it, once you calmly hold your ground ("I know this is a big change for you and I know that in 60 days time, you'll be able to find a new home for you and your mother to share"). 

So lately I had to calmed down the noise in my head about what I should do and not do with my property.