If you choose to work with people who have investing experience, they should be able to help you avoid common pitfalls.

Actually way more common than u think.

Jesus didn't take on the common feelings that others had toward tax collectors.

Then you would need just the common construction loan.

Boston proper and most areas inside RT 128 were well under 1% - commonly 0.5% - 0.8%.I'm seeing much better numbers here, and unlike Mass where a "professional (deadbeat) tenant" could tie you up in court for a year, in Maine I'm hearing that the absolute worst case scenario is 45 days.

The other way is to sell it as a TIC which stands for Tenancy in Common.

Not just academically, but because the public schools were so brain dead when it comes to common sense and they were deeply into "social justice".

(A)In this section:(1)ADULT means a person 18 years of age or older.(2)DOMESTIC PARTNERSHIP means adults living in the same household and sharing common resources of life in a close, personal, and intimate relationship.(3)UNRELATED means not connected by consanguinity, marriage, domestic partnership or adoption.

These are just some of the most common capex items. 

A common arrangement would be for all equity contributed (his 20% and your $50k) to the project receives an annual preferred return based on capital contributed, typically in the 6-9% range, followed by a split of remaining cash flow between the limited partner and the general partner.