What terms do private lenders expect?

[Jeremy Santy]

Hello, I'm working on a new building project and we'd like to take on a private investor for construction. This project will be a high end spec house.

Anyone have any recommendations or resources they can point me to? I'm mostly curious about how to structure this (LLCs or other), what are common terms that private investors expect, and if anyone has any positive or negative experience with this method.

Thanks!