Too good of a deal to offer a private investor?

[John Jessie]

I'm an attorney who lives in a medium-sized, rural town in Kentucky that truly is flourishing. I am very ambitious and have located several commercial real estate opportunities (e.g., storage units, warehousing) that are privately listed. I ran the numbers and these particular properties would pay for their monthly note payment (and some) if they were transferred tomorrow - based on their current occupancy status). Unfortunately, my cash on-hand does not match the level of my ambition, and I am hesitant to begin talking to banks about financing these commercial opportunities without a down payment of 20%. Fortunately, I have several good, wealthy contacts in the local and neighboring communities who have responded favorably to doing business and getting involved outside of their legal needs. 

I have come up with a deal to offer the "cash rich investors" in the commercial opportunities, and I am looking for any feedback whatsoever. 

My deal is this (it would be laid out in writing) - the investor fronts the down payment (e.g., 20%) for the loan and covers our partnership in the instance we have an "oh crap" moment. In return, as an attorney, I will handle all rental agreements and legal matters, showing property to potential tenants, and keeping track of monthly rents, handling maintenance issues and all other matters that fall into the handling of commercial real estate. In these opportunities that I speak of, I am not looking for a little passive income right from the beginning, as I would prefer to put all of the monthly profits towards any bank note on the property so that it could be paid off ASAP, in order to develop equity. As a result, I would look to split the ownership/profits/equity of the commercial real estate 50/50 with the investor.

How does this sound? Would a potential investor look upon this favorably, or not? Any thoughts, comments are greatly appreciated. 

[Robert Shaw]

I wouldn't go near it. If you're not putting your money in, you should be entitled a promote percentage which is 10-20% tops since you don't have a track record, and you're in a small market.