You should speak with an attorney about drafting up an agreement between the parties involved detailing the profit and equity percentage splits and your accountant will prepare the tax returns accordingly.

My plan is to offer 10% interest to my investors, paid out monthly, take 6 months to 1 year to complete the reno-rent-refi process, and then pay out the investors.I'm not going to go into too much detail on the deal right now, but I will say that i'm very confident in it. 

Maybe a local lawyer would provide a free or low-cost consult and give you the legal details you need.

Needed a little work, I offered 85k and she said she'd think about it, wanted to call around....I am spectacular on the phone, can go from first cold call to appointment set plus get all the details of their situation, but not so good in person. 

we'd need more detail...would only be assuming the circumstances by responding...What is the situation? 

@Daniel Rutherford  Before going into the finance details, will the on-line auction even allow it to be financed?

I don’t know all the details for them yet.

I might have some local referrals to send you to so feel free to PM me for details.

The entire cost during renovation might not have to be capitalized and can be expensed, but you need to talk to your tax professional and give him all the detail. 

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