Who has a basic partnership plan?

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So I was in my old town this weekend enjoying the day and I ran into an old acquaintance. He asked what I was doing now and I told him I had retired and started buying homes to renovate and rent out. 

He asked me if I would do a partnership with him on a home or two with him providing the capitol and I provide the loan rehab oversight and management. His goals are in line with mine to hold for a long period of time collecting rents so this may work.

I know quite a few more people from my adopted home town that would also be interested in this deal as well but I wanted a solid plan before I approached them. I am in the process of gathering all the facts like the initial home cost, rehab total cost, what the mortgage taxes and insurance costs are per month and rents on each of my homes to show potential profit per month for money invested.

My question is since I'm pretty new to this having just completed my fourth home does anyone have some sort of plan or insight into this that would help me out?

Thanks in advance.
Jeffrey