Raising funds from family/friends: How to price equity?

Hi,
I am in the process of evaluating couple of prospects in a vertical I am doing my self-funded seach rounds.

My thought process is to fund the deal up to 90% between senior debt and seller note and raise upto 10% equity on a $3M deal.

I need to raise capital from friend and familyas passive investor, but I am not sure what are the best practices when it comes to raising capital from f/f. To be specific, I need to detrmine:
1. If I need to cobble together 300K in equity, how many investors should I raise that from?
2. How to price equity?
3. What is a fair IRR rate to offer to the investors in today's market?
4. What the target hold period should be?
5. What are the right parameters to define for investors (assuming they are happy with moderate returns)?

Appreciate all comments/feedbacks in advance.