Partnerships, BRRR, cash out and economy

[Avi Garg]

So I have been thinking about this a lot for the last few days. In a partneship, if one person is a money guy and the other is the rehab guy with a split for 80/20 or 60/40 (take your pick on the numbers). Now after refinancing (only money guy on loan), they split the extra proceeds based on the split. Here are the numbers (hypothetical):

Purchase price: $200,000

Repair: $75,000

ARV: $400,000

Cash out while refinancing with 20% down: $45,000 (ignoring the closing costs)

60/40 split: $27,000/$18,000

All good so far. Now what happens if economy tanks (extreme scenario) and partners are unable to rent the space out so they are forced to sell. Since the rehab guy doesn't have skin in the game and already took the cash out split, they can just walk away, leaving the money guy to pay for that extra $18000 that was given to rehab guy. 

How would you avoid that? Would that ever happen? Does the refinance bank ask for rehab guy on loan as well? Or its just better to get an asset based loan to avoid all this?