How should I structure this partner ship with my dad with 500k+?

[Jeremy Karja]

How should I structure this partnership? My father has about 1 Million in different properties he purchased over 10 to 15 years ago. Some of that land has doubled or tripled and some he is even. The properties are as follows: is a cabin next door to his home, chunk of Land on the highway, hunting land, and some land he could develop on. He does not receive income from these properties AT ALL. The problem is he owns a construction company that only has a couple employees and does not see a retirement in sight at age 60.  My solution: sell these properties and turn them into income producing properties. 

With some multi families we could produce around 7500 of income at  $250 a door per month net of expenses. 

My thought was a partnership like: I get 25% of the income and ownership and put in 10% the investment with my money and he puts up the 90%. I would do the set up and he would do most of the maintenance.

Is this a good deal for both of us?  Other things to consider?

Thank you,

Jeremy