It lacks the waterfalls of NE GA. 

I am trying to model a deal for someone involving a silent equity investor (LP) with a waterfall analysis, I do not have much experience with that type of modeling.

When I got into the basement I heard the terrible sound of water cascading against the floor like a waterfall.  

Very nice hikes and waterfalls in the area.

We have since expanded and have engaged in "waterfall" cash flow models and have adjusted our backend splits as well.  

Some firms charge practically nothing for amazing stuff.I've worked with just about every software out there (ie. argus, planease, roi, waterfall irr, RE benefits etc) and they can be very helpful.

It was a freaking waterfall, if there hadn't been floor drains in the middle of the house it would have been really bad luckily it was only 4 or 5 inches deep.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

You should think about doing a distribution waterfall rather than a 50/50 split.

@Ajay Malhotra  , you did not provide enough information to be able to properly gauge the risk.Also you left the fees in the waterfall blank in your description.Based on the limited info you posted: a brokerage fee of 6% is extremely uncompetitive if this is an accredited offering (they are almost always 0%).