This property has some one-of-a-kind qualities namely a nice creek with inbound and outbound waterfalls at each end of the property (its on a hill w creek canyon).I've gotten the septic scoped and certified, well is good, power needs to be reinstalled as property was abandoned years ago.

@Jessie Dillon, within your partnership, would you break down your fees and waterfall in your JV deals?  

A water line burst in the 3rd floor ceiling and by the time I discovered it there were beautiful waterfalls from the ceiling on each floor and severeal inches of water in the basement.

I’ve developed a Comprehensive Investor Report (CIR) for a property in Palm Coast, FL, designed to be transformed into a luxury rental asset while serving as the foundation for a scalable asset management strategy.Here’s a quick snapshot of the deal:Property: Red Birch Lane, Palm Coast, FLCurrent Value: $350,000+Mortgage Balance: $165,000Current Equity: $185,000Investment Required: $177,500 (for luxury upgrades and optimization)Projected Monthly Rent: $4,500 with 2% annual increasesTarget ROI: Full 1.5x ROI for investors achieved in 9 yearsLuxury Features: Smart home automation, designer finishes, professional-grade kitchen appliances, and more.I’ve also structured a capital distribution plan with a waterfall approach:8% Preferred Return for investors.Full Return of Capital to investors before profit splits.Post-ROI, a 20/80 split (Investor/Management) ensures long-term alignment.

Quote from @Greg Scott: I do not like waterfall returns. 

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.

My next comments are ONLY for tax purposes and may not align with how the waterfall works in the offering.Your syndicator may treat all distributions paid to you, up to your full capital balance and any allocated debt, as a return of capital for tax purposes.  

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.

The beaches, rivers, lakes, and waterfalls are beautiful and enjoyable to go to.  

And, probably the biggest, the fee and waterfall structure are much more favorable to the GP when your investor base does not have many options.As for advice, the best is to view many deals and talk to many operators.