Does anyone have a sample contract/agreement they can share that they use with their passive investors?

Thats whats so helpful about my exercise! 

If your samples come back positive, just start calling folks.  

150 K to work with starting from nothing is where I figured this exercise would be Extremely flawed.

Unless its an ongoing engagement, its typically an exercise in futility.

Whether the parties exercised mutual control over and assumed mutual responsibilities for the enterprise.

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

Thanks @Andy Sabisch for running those sample numbers.

Can some one share any sample template?

When I go to exercise the option after the alotted time period, do I seek fixed rate bank financing on the appraised amount, which the bank will lend 70% on, and then use that to pay off option and keep any remaining money so that it effectively becomes no money down other than the option fee and any attorney fees needed to draw up the MLO?