How Do I Structure a Private Loan?

[Jeff Jenkins]

Say I have found a great deal on the MLS, and I want to purchase it. Assuming I know potential investors, how would I structure the deal? Say the house is $100,000 (for sake of clean math) including any repairs. The house is actually worth $120,000 (ARV) and it will rent for $1000/month.

Again, how should the deal be structured to a private lender?