Paying private money % to family?

[Miguel Talamantes]

Hello Biggerpockets family,

I am looking to raise money from family members to start flipping my own deals. I have three people that are willing to invest. I will be using this money for down payment of a hard money loan and repairs.

Questions

1. How much should I pay my private investors back in interest % per deal that I use their money? 

2. Should I open a trust to hold the money? 

Back story- I started as a realtor, turn wholesaler. The last deal I did was a wholetail deal. I purchased the property with hard money and just listed it without any rehab and made a great six figure return. However if i had more money i would have been able to flip it and make even more. I have a team and an LLC. We come across 3-4 great deals per year that i want to flip moving forward. However this market in Los Angeles is expensive and I need private money just to get 10% and repairs for a hard money loan.

How do i structure this with my family members / Investors and how much do i pay them?