What percentage of equity is my work worth?

[Gabriel Krut]

Hello all!

Background: I am a 20 year old Junior in college (Go Irish!) who wants to get started with REI through rental properties. Thanks to BP's podcast, forums, articles, etc. I have narrowed down a market and established search/analysis criteria. I am fairly confident in these criteria, since every property that my analysis has deemed a deal has been snatched up within days of its listing. I'm now interested in getting involved and am in need of funding.

   Current situation: I have found a duplex in MI that hits my cashflow needs and now am looking for ways to fund its acquisition. My plan was to put some of my savings in and get the rest of the down payment from my family. There lies the rub: how much equity should I get in this deal? From a pure capital perspective, I am putting in ~20% of the down payment. However this doesn't take into account the search, analysis, arrangement of PM, etc. All my family has to do is look at my numbers and agree to chip in.

Thanks for your responses!

(PS: If anybody has advice on financing options as a 20 year old college student, I would heartily appreciate it. My impression is that it is virtually impossible to secure a mortgage since I have no real income.)