There aren't any great vantage points to view this sliding cascade, which is in two parts with a pool in the middle.
From Asheville, take the Blue Ridge Parkway South past Mount Pisgah. Or head up to the parkway on US 276 and go South. The Graveyard Fields overlook is at milepost 418; park here.
I don't recommend hiking to this falls; it's not worth the dangerous scramble to the bottom. If you must, though, hike toward Second Falls, but take the trail to the left at the last junction. You'll pass through a flat campsite area where you can hear the falls down to your right. Head toward the creek and find one of the "paths" leading downhill to the falls Hang on for your life as you descend. With luck, you won't pop out above one of the cliff areas that leads directly down into the falls!