Partnership Deal Structure Help

[Eric Allgeier]

I am an investor and I have several people close to me that would like to invest their money with me through partnerships. After tearing through the forums on BP and many sites on the internet I still don’t know what would be a good deal structure. So I made up my own and I would love comments and answers to these questions: 

Does this deal seem close to normal? 

Does this deal seem fair to all parties?

Any comments at all would be greatly appreciated.

The deal: My investor(s) put up 50% of all up front costs (down payment, closing, minor initial repairs), I put up the other 50%, I manage the property and take on any future costs for repairs or improvements. In return my investor(s) get 15% on their initial invest each year plus 50% or the equity. I get the rest.

Example with numbers: 600k 12 plex , we each put up 60k down, investors get guaranteed 9k every year and half the equity.  I get 35k every year and half the equity.  How does that sound from both ends?  

Thanks for any advice!!