Advice / criticism invited on partnership structure!

[Simon Cox]

Hey Everyone! 

My partner and I are setting out on a flipping/direct-mail campaign. I am out of the country which leaves my partner in the "boots on the ground" position. Just trying to figure out a fair value of that work compared with the risk of me putting up all the funding.

What are your opinions of a 50/50 profit split based on the following partnership structure?

Me:

1. Splitting cost of monthly marketing budget 50/50.

2. Putting up the funds for the deal. (20% of purchase price & rehab, plus closing/carrying costs.)

3. Helping with the marketing/direct-mail campaign.

Partner:

1. Splitting cost of monthly marketing budget 50/50.

2. Fielding calls, setting up appointments, negotiating, closing deals.

3. Managing rehab and sale.

4. Helping with marketing/direct-mail campaign.

Any advice or criticism is welcome! Thanks!