Partner Split

[Nathan E.]

I am trying to get an idea of a fair split for an apartment complex deal that is currently in negotiation.  Without going into great detail, there are essentially two parties: the managing partners, and the money partners.

The managing partners' LLC found, negotiated, and while not directly managing the property, will manage the PM. They are investing 10% of the cash and will be holding a recourse loan.

The money partners are putting up 90% of the cash. They will not be on the loan, nor be involved in operations.

The deal is set up so that there are two splits: one for the cash flow, and one for the proceeds at sale. What would be considered fair numbers? Essentially, how much are the managing partners non-monetary contributions worth?