The only disadvantage I can think of is that they can be a bit noisy when it is raining really hard but at least you won't have a waterfall in the house.

This is a great tool to use in deciding whether to move forward with a 5 or 10 year waterfall analysis!

My 'cash-flow' is up (but taxed  as interest🥺), 'perpetual' and hassle-free,  but eventually I'll have to manage the waterfalls and tax situation when the balloons pay out.  

Kareena, that's the marketing number, you really need to get the T12 proforma from them and check their underwriting, what's the NOI every year, their financing, their DSCR, their waterfall, their acquisition fee and their sensitivity analysis to interest rate changes.

Each investor should achieve the same IRR unless their is a different waterfall that provides different returns based on investment amount. 

So with that logic, I want the LP to be protected and get paid out a baseline return first, but if the property exceeds expectations I believe the GP should capture  higher returns.With the proposed 75/25 waterfall breakdown suggested by the LP, I feel that I would be under compensated the first 4 or so years and it may not be worth it for me considering the month of labor it takes to furnish the property and the approximately 100-150 hours a year it takes for me to manage the property.

It has .6 miles of riverfront, shoals, springs, creeks, waterfalls, multiple access roads, cabins, barns, docks,etc.

The person who mentioned theme is correct - The Waterfall House in Palenville does best in Palenville because of their theme.In most towns, non-permanent structures can be used up to 6 months of a year. 

., rent, expenses, interest rates) affect financial model outcomes.12.Operating Pro Forma: A projection of a property’s income and expenses over a specified period, typically used for budgeting and financial analysis.13.Cash Flow Waterfall: A structured distribution of cash flows to different stakeholders in a real estate project, often involving equity investors, lenders, and developers.14.Leverage: The use of borrowed funds (e.g., a mortgage) to finance a real estate investment, potentially amplifying returns but also increasing risk.15.Equity Investment: The amount of money invested by equity partners or investors in a real estate project. 16.

Many factors go into pricing a new engagement, I have clients that are charged a few thousand up to a few hundred thousand.  1) Number of properties / types of properties (Commercial / multi family / short term / mixed use / triple net / TIC / etc...)2) Number of entities / type of entities / complexity of those entities (syndication/waterfall)3) Existence of trusts / nature of those trusts4) Number of state filings / which states (some states are way worse than others)5) quality of record keeping6) how difficult you are to deal with as a human being ;)7) how much additional consulting and planning services will be needed8) nature of your business9) when do you want it done by?