I'm a private real estate investor (not a company) looking to advertise for an investor/partner for startup capital. I'm looking for someone to be a cash investor/partner with me in acquiring single family homes for fix up and resell. I would like to know what the legal guidelines are for advertising for cash investors (i.e angel investors, etc..). I've contacted the SEC, but have been given some very gray area guidelines of what constitutes selling a security. i believe if I advertise with the idea of evrything being a 50/50 split (both going on title), both contributing some money and making decisions, that I should be fine. I'm just concerned with usury laws, securities violations, etc.. If anyone has experience in this matter, your opinion would be greatly appreciated. I'm not asking for binding legal info, just expereinced opinions.