Opportunity Fund Ownership Structure

[Cody DeLong]

Myself and my friend both have some Capital Gains we'd like to defer into an opportunity fund to self invest.  He is going to be a more passive investor in this situation.  I'll be the one getting the deals, renovating, and everything else.  How would you structure the owner ship structure.  We're each bringing the same amount to the table as far as our capital gains.  Should we be doing an even split and then me taking a percentage of net fee for managing the projects?  We will be paying a property management company.  I guess what would you do?