Otherwise, I would always suggest hiring an attorney to draft one up for you, or at the very least, find a template and have an attorney review it to be sure you've got your bases covered.Good luck! 

I'm glad this thread came across to me based on my keyword alerts!  

You'll have a "base rate", usually based on LTV and credit score on a grid, and then you'll have "loan level pricing adjustments" (LLPAs) that will adjust that.

Hi Dylan - I am also new to RE investing but have a lot of background in building a solid financial base.

I think the question that bases the shape of this argument is, how old are you? 

The equity and profit would all be split based on money put into the deal, so I would have 20% equity and would be entitled to 20% off the net profit.Here is my issue: both of them are pretty set on holding the property free and clear (10+ years) because their primary goal is solid cash flow and secondary income to their businesses which can be seasonal.

It has cash flow of only about $200-$300.00 a month right now, however May-October I expect cash flow mo. to be about $900.00-$1200 mo. this is just based on AirDNA which we know is not very accurate.Again, im looking for any scenarios that you all could come up with for me that I could present to my builder/friend, that would be equitable for both of us if we entereed a partnership or JV.Thak you in advance!

Airdna is not just based off algorithm but actually data pulled directly from Airbnb/VRBO, which hosts agree to sharing when they list on the sites.

Located right in front of a large navy base.

Be careful about the neighborhoods, there are some neighborhoods in the counties that I won't put money into based on downward trends of maintenance and appearance.