Help with Partnership Structure. Wholesaling/fundraising for Apt.

[Ben Pospisil]

I have a group out of St. Louis (CPA/Controller & attorney) who have told me they would like to get into my market (Dallas). They know I wholesale and sent me an offer letter that broke down their splits as far as investments are concerned. I really like their team and their proforma.

The deal they sent me states that if I were to find any C/B- class apartments here in Dallas they are offering me 80% on the transaction side as an acquisition fee and then 20% manager ownership. I HAVE NO CLUE if that structure seems fair. Would you guys mind sharing your thoughts? I'm asking about this now because I have a few potential deals I'm negotiating on that I would like to share with them but am not sure about the structure

I have wholesaled over 25 Residential/commercial deals but I have never done an apartment complex or long term wholesale deal where I stayed in it. 

P.S. if you can't be nice please don't comment.:)

Any feedback would be much appreciated.