Need advice about entering into an agreement as an investor in Az

[Michelle Reynolds]

Hi, We'd like to invest in a rehab property, (through our LLC), with trustworthy acquaintances, but would like to get a written agreement in place. This couple has purchased the property for $185k with hard money and have put in $40k out of pocket so far toward the rehab with another projected $40-$50k needed for completion. There are 2 other silent investors who have put up $30k each. We're coming in late to the party.

We'd put in $35k and have equal say with the owners in all aspects of oversight of the rehab process, staging and selling decisions. The net profit would be split 25% for all. Is there a standard contract available that would cover this relationship or should we consult our attorney. All parties are in Arizona. Thanks in advance for any advice we can get.

Michelle & Frank Reynolds