The easiest way is to treat the investment from your partner as debt and just pay a pre-determined amount of interest.  

Hello BP Forum World!My partner and I have kicked around the idea of establishing a "get our cash and run" system. The idea would be that once the equity in a particular property reached a certain level (trigger point...

We had set up payments so that I paid 20% upfront and 20% after each predetermined milestone.

Are you long term hold or take the money and run at a predetermined appreciation point.

@James Mast While you can have an Option to Purchase contract where the tenant pays you a fee for the option to purchase as some predetermined price (or according to some pricing schedule), these often don't work out. 

I would like to turn it into a 3 bedroom single family.How can I pre-determine the value after rehab?

Usually if I have a predetermined idea of MOD.

For lease option, since you agree to a predetermined price earlier, can't you wait for the market to go up, and then buy at the cheaper pre determined price, assuming real estate does go up in price?

I would definitely choose Fast and Good - as long as they stick to a predetermined budget I'm fine with paying what its worth. 

(I’m assuming these are private money lenders like you said because if they’re an actual hard money lender the rate/terms are probably going to already be pre-determined and they’re also likely only going to be willing to do first position loans.