Funding New Deals with/without starting a fund

Hey everyone...looking for some advice on funding deals. We have a few projects in hand where we plan to develop on raw land. Our goal is to provide investors with a rate of return on their money while it's being worked, return the capital back to the investors upon a cash-out refinance at 80/20 LTV ratio (or as soon as we get to the 80/20 LTV) and also provide them with a small equity piece in each project in perpetuity. We plan to place each project into a separate LLC. I'd like to avoid starting a fund to avoid the SEC paperwork and regulations...my question is, what are our alternatives to this, based on the above compensation plan? Is it possible to have more than one individual investor in these types of deals without involving the SEC? Any advice, input, past experiences, etc. would be greatly appreciated!