Creating a business with family

[Jared Wash]

Hello,

My wife and I have flipped and purchased several properties but are looking to create a business and start using a family member's funds to purchase some multi-family properties to fix up, increase rents and hold but wondering what a fair payout and ownership is? We'll use most of their funds but my wife and I are managing the flip/rehab, managing renters, maintenance, dealing with lenders and financing, etc. Trying to figure out what is fair for rent share, ownership, etc. as they'll just be a silent investor and my wife and I are doing all the work. As of right now, we paid them 8% interest-only payments and paid 3 points when flip was sold. 

Thank you!