Partnership structure

[James Moran]

I'm looking to start a partnership with a friend that has a good remodeling/renovation history and I've seen his incredible work.  He has very little money to invest but will be managing the renovations and doing most of the work himself with very little work contracted out. He has about 5k to help with financing our first RE adventure together as partners while I'll be doing most of the creative financing of this project.  So my question is what would be a good split of profits after a fix and flip and what should I include in the partnership agreement other than profit allocation?  Thanks in advance for your replies.