Profit Splits for Rental Property

[Paige P.]

Hi! I'm a new real estate investor, I currently own a rental property that I purchased last year. It cost around $185K, and as a vacation rental it generates $60K gross per year on sites like Airbnb. 

Since I considered that to be a success, I am planning to buy a few more. So now I'm looking to partner with someone on a property in the same area. With two 50/50 cash partners, how do the rest of the responsibilities fairly get split? One partner would be doing more of the reno side and the other would be handling more of the business/management of the property as a active vacation rental.