How to structure terms when investors are involved

[Justin Culpepper]

I'm new real estate investing, more specifically, in the on-deck circle and I'm interested in using investors (family and friends, but I'm not looking for thoughts on those pitfalls) to get started in real estate investing. What are some key items to consider that need to be spelled out when presenting a deal? I'm thinking of initial investment, expected payouts, breakdown of how rents will be spent, etc. What questions will investors want/need to know before investing?

I tried finding a specific thread on this topic, but didn't find one. If one exists please feel free to tag in rather than starting a new thread. 

Thanks!