Giving ownership to partner who is bringing deal, but no money.

[Matt Fisher]

Hi All,

I have a friend who has presented me with an opportunity to buy a property at a pretty good price and I would like to include him in ownership, but don't know the best or fair way to do so.  I can buy the property for around $220,000 and probably sell for around $290,000 after some pretty cosmetic renovations.  Please note, I don't plan on flipping the property, but hold for a rental. I could pay him for bringing the deal, but would like to include him in a more significant way.  Any advice on how to structure where it would be 50/50.  He lives in the market and could manage the property for us and help with renovations.  He is a good friend and I would like him to benefit from the good deal as well despite not having the cash to do it himself.  I have the money and he has the deal.  

Thanks,

Matt