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Spencer Burton introduces Ron Rohde as the legal contributor for ACRE. Ron Rohde presents a walkthrough of a real estate legal document, specifically a waterfall template partnership agreement. The agreement outlines the rights, responsibilities, and return of capital for general and limited partners in a partnership. This document helps parties come to terms on their investment and includes various legal and modeling options. To provide insight into how the document works, Matthew Green, a real estate analyst and acquisitions expert, joins the discussion.