working with rehab purchase

hi,

i am considering working with a group of people who buy, fix up, and then sell the property.

i would be coming in as the money guy. i have examined the documents regarding the typical purchase.

it has them as being sole owner. this leaves me as a lender with the typical note and trust deed.

i am to receive interest, as well as a percentage of the profits.

it appears as if they open an escrow to buy the property, and then another escrow when it is sold.

i have yet to see the paperwork involving the sale, how the rehab costs are paid, and how things are distributed. although i am told that distribution and 1099s are done thru escrow.

any thoughts on the best way to handle this ?

it would seem best to have the distribution papers signed at the same time that i lend the money for the property purchase. but they need me more than i need them. so i dont think they would be willing not to pay me profit percentage at time of sale, cuz they desire a long-term relationship. i would at the very least be protected by the typical loan documents, as far as my principal and interest go.