Your numbers have to be near perfect.

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! 

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.

On projected current rates and Expenses based on NOI I got a valuation that is 50 - 55 % lower than the asking price which is based on comparable residential units in the area I was looking at ...  

In a perfect world, they may share it evenly (in this sample that would be 3% of the sales price, which is 50/50 of the $24,000)  but you'll see a lot of much smaller splits, even as low as 2%. 

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!

Located right in front of a large navy base.