How should I structure this real estate fund and what Docs are needed?

[Austin James]

Hello! A partner and I who buy multifamily properties together, have a few investors who want in on what we’re doing. I want to pay them a preferred rate of return on their money without giving up equity in the deal. 

How do I go about setting this up? What documents do I need drafted, & is there a website that will work for this purpose so that I don’t need an attorney to draft these? It will be a simple structure and our investors are friends. What are some examples of how this should be structured? What kind of return should we even offer?

thanks in advance, BP!