I just learned how to do it yesterday in Open Calc (a spreadsheet application similar to Excel).

This really is a great discussion and all who have responding have made many excellent points and asked great questions.

It will be an excellent payday.

Tackleberry and JWorley have excellent advice as well, but I did not have the money starting out and some could argue that I should have waited, but I was hungry enough to make it work.

I also read that Missouri is an excellent area to do this.

Excellent that your property is right near an exit/entrance!

I thought, wow, I should really incorporate those into my leases, as they are excellent proof and can avoid a "he said, she said" situation.

There are many critical legal issues to consider and address BEFORE you sign.Andy Argonaut has an excellent addition with option #2: Adding a substitution of collateral clause.

You all gave me excellent things to think about, especially regarding markets here in Tacoma.  

I'm looking for an Excel model with GPLP split with a Pref return using an IRR hurdle, return of capital, followed by X% of LP share of cash flows all to GP to catch them up to 20% of the Profits.