Help forming a partnership

[Ryan Miller]

I have been investing in real estate and managing the properties (15 units) on my own for years but I have reach a point where I would like to scale faster. A long time friend reached out to me about forming a partnership. He has a lot capital and is looking to invest. Our plan is to brrrr five properties and use them as mid and short term rentals. He has all the capital but no real estate experience or infrastructure. I have years of experience, all the contacts, systems in place, knowledge, etc. 

The partnership is basically me providing the day to day work and he would provide the funding. How do we structure the percentage of ownership of the business? Is there a better way to do this (he doesn't want to just provide a loan)? After we brrrr successfully would he recoup his initial investment and keep the percentage of the business?

Any help would be greatly appreciated!