I'd love to get your feedback on which option you think is more attractive and why.Option 1: Equity Partnership- Target Properties: Single-family homes, multifamily properties, and land for development in prime locations.- Investment Term: 5 years - 10 years- Equity Split: Investor 80% / Sponsor 20%.- Preferred Return: 8% annually to the investor.- Profit Sharing: After the preferred return, profits are split 70% to the investor and 30% to the sponsor.- Management Fees: 2% of gross rental income annually.- Acquisition Fee: 2% of the purchase price.- Disposition Fee: 1% of the sale price.Option 2: Debt Financing with Equity Upside- Target Properties: Single-family homes, multifamily properties, and land for development in prime locations.- Interest Rate: 6% interest only for a term of 5 to 10 years- Prepayment Penalty: 2% if the loan is paid within the first 3 years- Equity Upside: Investor receives 30% equity of the appreciationWhich option do you think is more attractive and why?

It has a ~480 sqft detached garage in good shape.

I am interested in purchasing some raw land that is zoned residential. 

It is all and ONLY about providing value.Google's algorithm is there to determine how much value your website provides to Google's traffic.Now ask yourself, do you really think that when a motivated seller lands on your website, they are going to care about how many backlinks you have?

They bought land, built condos, then sold those condos.

These loans can be a bit more expensive and don't always have as good a rate as conventional.If you are doing a flip and/or purchasing a property that is in such rough shape that conventional financing won't work, then hard money is a good option.

Thankssss You can make a sign unseen offer...just offer the land value. 

San Jose is now the first city where an ADU can be sold separately from the main house - I'm not sure how that works, maybe the land is divided up in the assessed value???

My mortgage is around 1200 and average good shape and expenses are very minimal.

Thanks Jorge build new don't buy new and don't buy existing. find your own land, entitle it, control the full process, get architects, zoning attorneys, roll your sleeves up it isn't easy but it's big money.