Partnership structure - buy and hold

[Alex M.]

I've been searching BP for a couple of days now, with little results. Hoping that someone can help me. I'm trying to understand what is the best way to approach a partnership structure for buy and hold properties where one partner is the finance (100% or close to) and one is the locate, manage rehab, manage property, and manage future sale (5 years or more down the road).

I'm the one who is not bringing the finance.

From what I've been able to see, there are a lot of posts on 50/50 partnership splits for profit, etc where one partner funds and other other partner does the legwork if it is a flip, but so far there is very little info out there for this approach with buy and hold.

I've seen some comments stating that it would be surprising to find an investor who wanted to do this as the returns are not that great. However, if you are in a neighborhood that is quickly transitioning and what is a $40k home today is going to likely be worth $100k+ in 5 years, does this change anything?

...but there lies my biggest concern, while I am investing in areas that I believe are going to appreciate dramatically as that is where some real money is to be made, I am buying to cash flow and not guaranteeing to myself or to anyone that the appreciation will really happen. Without this, does it still make sense for my finance partner to work with me?

For those experienced investors who have done this, how have you structured deals for buy and holds and what books, templates, or other resources can you point me to?