Joint Venture % Split Question

[Brian Gerace]

I have a friend with quite a bit of idle cash. He always approaches me to find/partner with him on multifamily investments. My background is in SFR real estate investing. I have always been excited to enter into the large multifamily investment space. He would put up all the money and be considered a very passive investor. I would investigate and analyze the deal. On a percentage basis, how would you structure the joint venture. Could I justify a straight split(ie, 70/30) of all cash flow/profit upon exit?