Call this EAP (Earnings after Payments)To dig a little deeper, I'll also subtract the cash I tied up ($150K is about $30K + any rehab or closing costs at time of purchase) and apply a "cost of cash" (what is my opportunity cost of that investment in a fairly safe instrument), along with any EAP (can be positive or negative) and an estimate for my annual equity build (by estimating this from an amortization table).To clarify:Annual Benefit = Annual Equity Build + / - EAP - Cost of CashNote:  This is not accurate / scientific / mathematically rigorous, and I'm not recommending it as a way to calculate returns.  

A link should come up click and then navigate to what you want.

There is going to be a very very sharp learning curve that will end up costing more time and money than you anticipate (most likely) If your partner believes in you as a person rather than just the deal they will navigate those difficulties with you. 

I'm still learning how to navigate BP.

If that property passes a rigorous due diligence process and you choose to pursue it, I think, as a new investor, your best strategy is to figure out if it would be possible to buy the 2 acres with the duplexes and sell the other 8 acres.You can get up to speed on handling those or hire a PM a whole lot faster than you can figure out how to develop raw land. 

How you'll get the most out of BiggerPockets is to understand how to navigate through it and understand that it's a two way street.

In reality, it is one that knows how to navigate the process and protect their client in situations like these

What is your experience.I, personally, find navigating this topic tricky Here are some Articles about SEC rules on securities. http://www.strictlybusinesslawblog.com/2011/08/15/...http://handeleon.com/how-to-raise-capital-for-your...

@Ryan Klemetson Interesting post; you bring up some rigorous analytics to consider.

Would have responded sooner but still learning how to navigate BP.