Help....Friend wants to invest- need advise how to structure :)

[Estrella Carolina Mckinney]

Just wondering if some advice can be given. I have a very good family friend. looking to invest money in my real estate deals. What would be the best approach? He will be passive investor. but we want to make sure his investment is secure. what would be the best approach, a promissory note? I dont think I can do that with the home that I'm building with their money because I will be keeping it, I will be doing a refi and when they search the title that can be an issue right?

So I'm doing a new build (fourplex), building it with their money and my money. The build will take 4-5 months, I'm offering them 10%. Once is done, I will refi it into a Conventional Loan under my name. I want to make sure he has a secure investment and feels good about his investment. any advise, best way to structure his deal? He wants to keep the money going for at least 2 years.  Any advise? I want to make sure and he wants to make sure our agreement is 100% legit and friendship proof. Any advice would be greatly appreciated. I have always done hard money but now I want to explore private money.  Many thanks