Question about partnering

[Darius Smith]

If someone is wanting to partner with me on a real estate deal but he is looking for properties to add value and have appreciation to potentially sell and I am less concerned with the value as long as it cash flows positively, is there a way we an align our goals to work together? 

For instance, I considered what if I structured the deal to where I find a good deal that fits my cash flow requirements, my proposed partner puts the money to purchase and fix the property, we own it 50/50 or even 75/25 (in favor of the partner) but I do the work to manage it and also keep the cash flow. If we do a cash out refinance they can get their investment back.

Does this sound fair or does it sound like I'm being greedy? My partner gets what they want - a below market value asset and I get cash flow.

[Joe Villeneuve]

Here's how I do it.

You need to look for another partner (cash) that wants to hold.

Use the "flip" partner to fund the deal, and pay for the rehab.

After the rehab is done, and there is a tenant in place, use the next partner (hold) to "buy out" the 1st "flip" partner.  The buyout would be equal to the original cash the flip partner put in plus the profit you agreed on.  All three of you get what you want, using the same property.