Buying a property with my money and loan, splitting with friend.

[Mario Passanisi]

hello everyone! I am a new investor buying my first home. I'm doing a joint venture with a very long term friend who is much more savvy than me in the real estate department. We've come to an agreement that I would fund 100% of the down payment, and I would take out the loan in my name. He would do all the leg work on closing, managing and we will split future repairs. He's asking for 50% of everything. Including equity, rent profits ect. Is that to much? if I'm using 100% of my money seems a little steep. I know a lot of these guys get around 30% of the deal from what I've heard. Also property managers ask around 10% to manage a property. Just wondering if it's to steep. Any insight helps. Thank you!