Investing with Family?! Partnership Structure/% ?

[Dominick Murolo]

Looking to partner up with a relative. Need to come to terms with a fair partnership. Property for sale in a university area under market value (short sale). I am currently invested in another property which I am flipping, so this relative will purchase property outright. Once I close on flip and have funds I will come up with my portion. Property is going to be rented out. Relative lives across the country so I will be doing all the management/work of this property, they will be just collecting a check. I see it unfair to be doing all the work, maintenance, etc and only getting 50%. What seems to be fair percentages or how should this be structured. Any advice or experience with this would be great thank you.