Partnership - How to structure

[Tarcizio Goncalves]

Hi everyone,

I've been on bigger pockets for about a month now reading and learning about real estate investment. I wanted to ask the community questions about building my team and hopefully get some help. 

Scenario: I live in Massachusetts and am working to relocate to South Florida in 5 years max. I have some cash to invest in real estate. I have a good friend that is like a brother to me and he lives in South Florida. He is a really good carpenter and has his own business. The problem is that he doesn't have nearly the amount of cash that I have to invest in RE. 

Questions:

Do investors start a partnership without the other party having money to go in half and half on the deal?

If so, how do you structure the deal? How do you slit the profits? 

I am planning on buying rental properties (duplexes, triplexes, and fourplexes) in South Florida.  Should I just buy the properties and pay him to rehab/work on it for me? 

Investors, what would you do in my situation?

Thank you so much for your time and wisdom