Suggestion for deal structure?

[Nicholas Field]

Greetings everyone. Please be kind, I'm new. :) 

I am working on a project to develop a 5-plex with a partner. Please give me suggestions on how to structure this deal. 

-  I need to raise about $400,000. 

- My partner and I will have about $350,000 in equity in the project to reach 25% equity for the financing. 

- I plan on charging a 5% fee (of sale price), for development management. I realize it's high, but the project isn't too large. 

- The $3m project stands to make $575,000. Give or take. 

What kind of payment structure should I offer to investors of the $400k? I could say 30% Return on cash. Or should i give equity in company proportional to the amounts put in, which would give away a much more significant chunk of the profits. 

Any guidance is apprec