Newbie Partnership Structure

[Jon Passow]

Had a few questions when it comes to structuring a deal with a money partner. I know the options are endless but I was hoping to get feedback on my plan. For my first BRRRR property I have a partner that wants to be the money guy. I will find the deal, oversee the contractor, reappraisal, and oversee the management of the property for as long as we own it. He will provide/find the down payment, loan, rehab money, and refi.

I was thinking of having a 60% cut of profits for myself and 40% profits for his efforts. When it comes to the finer details, that's where I'm a little fuzzy. Would it be my partner's name on all the loans and then both of our names on the title? Also, if there's any cost overages on the refi would that be provided by him? What if the refi doesn't cover the costs of the project, who eats that?