Standard for practice for profit sharing among capital investors?

[Chris Graff]

Hello all,

My business partner and started an LLC where we put in equal capital and did equal work to buy and hold rental properties. We use a management company and generally do the work between tenants but hire out to for any major repairs while we have a tenant in the property. We are looking to expand however my partner has taken a new full time position that has him traveling often so we are going to switch our model so that he can be a capital investor only and do nothing else. Is there a generally accepted standard for how to set this up, meaning if we still want to be 50/50 partners on the back end should he put up all the capital, more than me but not all? I know there is not legal precedent but I am curious as to what works for others.

Thanks in advance.