Typically, the waterfall on the proceeds from closing go:  Debt, Equity, and then profit. 

The sign on the rattle snake is vague about where they could be but the one on Tarantula explicitly says they can be seen INSIDE the house, and gives instructions on how to stay calm if we see one....of course... stay calm...Unforgettable stay in all regards...

This is one reason I never invest in a waterfall deal.   

Keep calm and run your numbers.

Yes ... all the time..See, because of my huge mouth here and disgustingly huge ego here on BP, people know of me.So  they see how many leads I am getting with my amazing website that gay (gay as in happy... calm down ) fairies made for me.

They might tell you some things that you do not want to hear, when they do, remain calm, and always ask for the best way to work with them.

I felt so bad, calmed her down  and let her stay until the end of the month...I mean she has cancer man...a year later I ran into her ex husband and I asked how she was doing...he looked at me confused and told me she never had cancer and that she used this lie to get a few months free place to stay several times with other landlords and she is a pathological liar. 

Be calm.  

Once the tenant sees the inspection report and hears from other contractors that the problem has only been exaggerated, she will calm down.As for the tenant breaking the lease, it's likely she won't but if it does happen, the tenant will be on the hook like in any other case where a lease is broken.And as everyone already said, your PM company doesn't have your best interests in mind, only looking to take advantage of you for their own benefit.

1) Having a real estate agent that was a good listener and one who stayed calm while I was in a hurry.2) Negotiating and Buying the day before Thanksgiving - there was no competition and I negotiated 20K off the price.