How to approach a family member to be an investor

[Dustin Awtrey]

I am looking at a new real estate project, buying a vacant lot and building 18 units on it (6 tri-plexes). Rough numbers are looking like land price is $180,000 and hard costs per building at $180,000. How would I structure a deal where a family member put up the 180k for the land and i get a construction loan for the first building, upon completion of the first building i refinanced to a conventional loan and pulled out the equity to pay back the investor. What terms would make it an attractive offer to said family member in a 6-12 month timeliness to complete the first building