Deal Structure HELP! Land as equity with condo developer

[Gabe Sirkin]

Here’s the basics:

I have a piece of land under contract. 

I have an investor (LP) who has all the equity and access to debt.

I have an experienced condo developer (GP) who loves the site and wants to build on it, once we close on the land and vest it as equity in the deal

Where do I fall in? I found the site, tied it up, completed a phase 1, brought the parties together (and could help raise money, help with entitlement, sweat equity, etc).

 I do need the money from the investor, and the construction experience from the developer.

We have arranged a 10% preferred return to LP then split profit 30% GP 70% LP. The LP offered me 20% of whatever the LP gets.

is this a fair structure? I’ve never done a deal like this, and I’ve talked to two lawyers who both are over complicating it. The investor is a good family friend, so he is looking out for my interest. Problem is I would never in a million years know a good deal from a bad deal.