Partnering with Contractor

[Salvatore Lentini]

Anyone out there successfully partner with their contractor on a deal?  The contractor I've been working with for 3 years is looking to phase out of working with his hands and instead oversee jobs.  We have a good relationship and basically after the job we are finishing up now (an apartment building rehab) he is looking to do some flips on his own and then eventually get into buy and hold.  He'd like to partner with me but if I'm not interested he will do it on his own.  I have 25 rentals right now and I'd hate to lose him.... I just can't figure out a way to make a joint venture work. The obvious and best choice would be for him to work for free on a flip and then we split the profits.  Problem is, he can't survive for months without income.