How do I structure this deal? Funds already in place

[Cody Barton]

Hi everyone,

This is my first time posting to biggerpockets so hopefully I am in the right section with this question. So I live in Arizona and I am looking for properties between $300,000-$500,000 that are anywhere between 6-12 units. I have investors that have funds ready to put into the property. So I have a few questions for anyone who has done something like this-

-I plan to get an LLC set up with myself and the two investors but am not sure what the share of the property should be broken up into- as I will be managing the property making sure it runs smoothly and will split 3 ways any type of repair costs/eviction costs that come up on the property but the 2 investors will be bringing all the money to the table for the down payment.

-I am also because it is my first multifamily deal uncertain of how to analyze the property entirely, I understand basics of cap rate and some of the things but not sure how to create a strategy of buying the right property with the goal of longterm hold with 8-10% cap rate if its best to buy something that needs a little work to up it to the rate or if I should go after something that is already performing.

Any feedback appreciated thank you!