Depends on the amount but I am guessing that it is <50k 1. First Vesting. Always vesting. 2. Second Vesting. Always vesting. 3. Do not do preferred for a sma

Depends on the amount but I am guessing that it is <50k 1. First Vesting. Always vesting. 2. Second Vesting. Always vesting. 3. Do not do preferred for a small round. The legal costs for preferred are high >20-30k 4. Do common. Can be done in less that 5k 5. You could consider what Y combinator offers and tee of that (20k,60%, very valuable connections) 5.