Is this a fair partnership?

[Chang Pan]

I plan to work with my partner to use BRRRR method for investment. My partner will only provide a larger portion of the fund with no other work and I will provide a smaller portion of the fund and do all the management work (including finding the house, hire contractors for rehab, do paperwork for refinance and etc.). Each individual will owns 50% of the house while the cash out money will be reimburse to each proportionally. If we have to sell in a short term and end up losing money on a deal, we split the loss 50/50. I am a licensed realtor and if I get commissions from purchasing, I will tribute the commission towards the closing cost at the maximum allowed amount. I am thinking about providing 20% of the fund while my partner providing 80% of the fund. Examples: buy a house at 230k, rehab cost 20k. So the total cost is 250k. I will provide 20% which is 50k while my partner provide 200k. After rehab, the house is valued at 300k and we do a cash out refinance with 75% LTV and get 225k out - my partner will get 80% which is 180k back while I get 45k. If we cannot get cash out refinance and have to sell at 240k, each of us will take 5k loss, my partner gets 195k back while I get 45k. My questions are: 1. Do you think it's a fair partnership? If not, what funding split do you recommend? 2. Is this kind of partnership a normal practice? If not, what is your partnership look like? 3. Any concerns / recommendations? Thanks a lot!