Meanwhile, a tax professional will help you understand how to best structure and run your business so as to decrease your tax liability as much as possible.

It will teach you how to structure any kind of business deal the right way and how to recognize when a deal is set up the wrong way.

My long term goal is to create a small multi-family development/construction company and eventually structure it into an employee owned company that creates opportunities for other families to be successful.I look forward to getting to know and learning as much as I can from the BiggerPockets community.

That's not including soft costs such as carry, architectural, structural and utility engineering, etc.  

There are already sidewalks in place, I am checking on how far the structures need to be from the sidewalks and figuring about 200/ft2 to build.

Currently I'm thinking about offering both debt and equity styles of investments, so I would like to find out the legal documents and procedures in setting up such structure.

You'll need a good accountant to help you calculate this annually.Non-recourse lenders generally require a higher down payment, have certain property requirements (must be income producing, etc) and the loans are generally structured as 3 - 5 year ARMS.A third scenario would be your IRA co-investing with someone else as tenants-in-common.  

A few large dorm structures being built along with even more new building construction for facilities. 

Anyway, I will have lots of questions later to run by the experience here on BP but for now, I was wondering if anyone can briefly explain how a typical investor relationship would be structured (how do I entice an investor & what do I offer) and what trait do I need to consult to capture that structure; attorney, accountant, etc.?

We like houses with structural issues and old homes with lots of character pique our interest as well.