Partnering with friend! Set up help!

[Justine Scheuher]

In a nut shell, I have a property under contract. I can do this deal by myself, however, I am willing to partner with a friend who is interested in learning the ropes of REI. He cannot invest himself because of his dti (student loans). I understand the cons of bringing him in on this deal, but there are some solid pros as to why I'm open to it.

Question: what is the easiest way to structure this deal? Because I have the deal, financing options, and the know how, I think I want more than just 50/50. 

 What do y’all think is fair? 40/60, 30/70, 25/75? All duties will be split, however because he lives 1.5 hours away, I may Be more active with tenants/fixing issues that arise..

@Brandon Hall suggestions? Do you work with people who only have a house hack/ 1 rental property? If so I need your assistance for this years taxes!!

[Hai Loc]

@Justine Scheuher I don't see how your partner deserves more than 10%.. For me the asset management, project management for rehab deserves 25-30% of the split. In your case it depends on who is responsible for whatever and how much time dedicated Grading of deal. Good to excellent based on return, built in equity, scarcity of property etc.. I would say 0-20% can be dedicated to that party. The remaining 50-75% goes to funding partners. And this depends on who arrange financing if any. Higher % if the funding partners arrange the financing with lender.. Every deal is different but hope this helps somewhat Good luck and keep us posted