is this a good partnership

[Chris Nonn]

Hey guys,

So I thought I had a good structure set up but am second guessing now.

It is set up as a partnership, 60% me 40% other partner. The company borrowers money from other partners LLC at 4% for 30 year loan with a ballon at 7th year. When I have been doing the analysis the return is 20-23% return, cash flowing 6k a year.

 The first house was bought in June,rented Aug 1..numbers look like this.. 

Initial purchase-72k

Rehab-13k

Payment 405-loan 35$ insurance 100-taxes 30 trash..total payment 570

Rent 1200-570=630*.6=378/month for me

Second House is same just for sake of saving time.

My question is that is has been a few months and I have not drawn out a dime from account. I believe it is kind of my fault for not keeping track of expenses to the dime. I know after a month or two things should even out. The question is does this partnership seem even, to good for me, to good for him?

Do the numbers seem like they are deals you guys would be buying?

Thanks for your input.

Chris