Raising Equity and Structure for Payback

[Account Closed]

I am putting together my first couple of deals and in the process of raising the equity, which will mainly come from family/friends at this point. I've been looking everywhere to find some type of spreadsheet that helps to project out the investor return of capital as well as their equity, but cannot find anything that makes sense.

Here is my plan, but I'm open to advice or what works/doesn't as well. I plan to give my investors a preferred 9% return and a 50/50 split of the profit after that. It's pretty simple if I sell the property, but I cannot figure out how it would work if I do a cash out refinance and hold it. 

Also, has anyone found an easy way to possibly have the investors get their return, but not retain ownership of the property after a certain "hurdle"?

Any advice would be great, thanks!