Structuring partnerships for buy and hold portfolio

[Will Mitchell]

I am currently putting the pieces together for a new business which involves partnering to able to build a large rental portfolio rapidly.  I have a few of my own sfh rentals currently and I believe on my own I could buy around 5 or so properties a year to hold while continuing flip 5-6 houses per year.  I am interested in building something bigger and more quickly!  I have been putting some pieces together and connecting some dots in my mind on how to accomplish this feat.  A partnership is the best way I feel I will be able to scale the way I want.  I have a potential power partner that I have been borrowing from and we have a very good relationship.  We have recently discussed doing some business together.  I would like to build a portfolio of sfh and possibly multi-family properties that produces 50k/month in cash flow and I would like to do it in 3-5 years.  In this partnership I would be doing most of the work on the front lines as far as acquisitions and overseeing renovations.  My potential partner would use his capital and his institutional borrowing  power to give us the access to funds we need on the front to purchase and renovate before transitioning into long term financing.   I would love some feedback on how to structure a partnership like this before I go back to him to discuss this further.  Thank you.  Look forward to hearing about some experiences.