Need Help with investor payout structure

[Luke Hutchins]

Hello, I’m a residential real estate broker in NC,. I’ve been in the business for about 8 years now and have become a top producer in my market over the last couple years and own my own brokerage along with my business partner. I also manage a lot of properties for some of my clients. 

I’m looking to transition out of real estate brokerage and get in Multi family investing, ultimately I want to build my business on medium-large apartment complexes and have a 9 figure portfolio, But since I’m just getting started in multi family investing I’m hoping to take down something with 5-25 units for 300k-2 million to start. I definitely plan to partner up and plan to raise money from investors for any purchase price over 700k. 
one thing I’m still trying to figure out is what kind of payout structure to offer the limited partners who just simply invest their money in the deal passively. 
Do you give them a projected return upfront then you as the general partner keep the difference on what’s left over after that projected return? 

I’ve heard a lot of investors do a 70/30 split of the net cash flow and profits. (70% to the limited partners)
any advice would be greatly appreciated :)