Experienced Site Developer Question

[Tyler Lee]

Hey guys! Trying to consider the best financing/investor options for my first land development deal I just placed under contract in NC, and would love insight from investors that have prior experience. Here's the deal:

8 acres of land purchase price: $565,000

Will need to rezone for multi-family, tear down an existing home and build a road, connect utilities, etc

Intend to build at least 18-20 townhomes depending what zoning allows

Comps for new build 3/2.5 1,400 sq. ft. with garage for $300,000 - $325,000

My question is: how should I best structure financing for this deal? I typically use hard money for all of my fix & flips since I'm self-employed. I have six figures of cash to put in, but should I partner with a builder that has access to funding and can help carry a multi-million dollar loan, or try and raise private capital for the downpayment, holding costs, etc? If I do partner with a builder, what do profit shares typically look like for a project of this size? I appreciate any advice you can share.