Duplex deal using private money

[Zach Tobias]

I am a new real estate agent in my area and I am looking to use private money to get my investment career started. My mom's boss is the president of a commercial construction company and said if I found a deal he would finance it. My question is what is in it for me and what is in it for him? I read forum posts and have read through the bigger pockets investing book but the water is still a bit muddy for me for some reason.

Duplex is listed at 123,000, I would earn a 3% commission on the deal.

Taxes are 1400/yr

Location is C but about to get a boost when the city puts in a brand new 60 acre park near the property

I would manage it, I used to work for a management company and learned how to fix just about anything

Both sides already rented by the year one for $550 and other for $650

The one side could stand to be updated but hasnt because the tenant has been there the last 8 years. The other side just got an update and looks really nice. 

From a private money standpoint, how would you want this deal structured? I would take care of the management because I am local and have that experience and I found the deal but what money would I make and what would he make on this type of deal?