Debt/Equity Structure for a $1.5M Development Project?

[David Wallace]

Me and a team 3 others are in the early stages of our first development project. 

The team is comprised of myself, degree in Finance & Accounting with experience working in budgeting ad hoc reporting for a commercial contractor as well as running my own business unrelated to construction. We have a member who runs their own contracting company with their A & B license. Another member is a structural & civil engineer, with his own company. And our final member is a soil engineer. We also have close connections with a few architects (family friends) and a lawyer who is also a real estate broker (although these last two mentions are not part of the team). 

We are targeting $600K-800K properties in East LA with the intention of demoing the property and developing either 2 duplexes or a quadplex. This is already being done and has been done at different stages by members of the team. We have never done a project like this together or on our own.

My questions are:

Given our situation, what is the optimal debt/equity structure if the GP's are putting in limited capital of their own (10-30K for initial startup costs) and are looking at some hybrid form of raising equity and debt financing? 

What types of loans are typically best for this kind of work (1st lien for acquisition and 2nd lien for construction working capital?) 

Lastly, we wanted to go the Reg D 506(c) route. If we have all of our required documents in place do you recommend running an email campaign, submitting a project through crowdfunding site like fundrise.com, or starting with accredited investors that each member knows personally?

Bonus question: Is there a way we can pass the MACRS depreciation of property after stabilization onto the investors to provide them a tax benefit?

Thank you all and happy holidays!