How to structure a private loan...

[Bill Morris]

I'm a new investor and am in the process of gearing up to make this my full time endeavor after being laid off for the first time in my life. I have owned several homes and have 1 rental property (duplex) that we purchased almost 2 years ago. I have an investor who would like to lend me 100-200k to get things going. He wants an 8% return, paid monthly, and doesn't need or want the principal back (anytime soon.) He would prefer to keep receiving the 8% return. Does BP have a generic loan form on file? I'm not sure how to structure the loan and looking for advice. I would like to purchase properties and use the BRRR method to acquire more, but will also flip if/when necessary to raise cash or if rentals don't work out as planned. My wife is a relatively new realtor (1.5 yrs,) but because she's on commission and I no longer have a W-2, not sure conventional loans (refinancing the properties) will be doable. Thanks for any advice.

Bill