Partnership Structure Advice

[Kyle Davis]

Hey BP!

I have been asked by a friend of mine to join him on partnering up on acquiring some deals.  My role in the business would be to be the analysis side of things along with structuring the offers on the purchase of apartments.  The other partner would be the money side of things.  We would also be hiring out a Operations Manager.  

We are in discussion about payment.  We already discussed that we would both be owners of whatever we acquired, but things haven't resolved in the category of percentages and/or base pay.  My original thought would be to take a small base pay salary as a significant amount of my time will be spent analyzing deals, but I also want to be a part owner of the apartments we acquire.  I was thinking something along the lines of taking a small salary so I can keep money coming in, and eventually as we acquire deals I can waive that base salary for more ownership in the apartments.  But I have zero clue on what I should get paid, or what percentage owner I should be.  Has anyone structured something like this that can provide some feedback?

Thanks!

Kyle