Business structure for 75/25 split

[Raj Gandhi]

I'm working with a colleague to start a RE venture.  The location is 5 hours away for me while my partner splits time in my town and the prospective location.  Here's what we each bring to the partnership:

Partner: energy and boots on the ground.  

Me: experience from having six single family rentals (six years buy-and-hold) and cash available from sale of a rental.  

The plan is for me to put up most of the start-up cash (probably 90-95%).  The partner will ~earn towards the 75/25 split by doing property management over time time (probably 3-5 years).

So, the question is how do we structure a business to get financing and allow unequal ownership (of the property) that changes with time in a pre-determined way?

With regard to financing we'd like to get simple (not commercial) financing.  Will that be possible?

Any other comments about the proposed ventures are also welcome.