Setting up partnership and LLC

[Monil Shah]

I am partnering with a contractor buddy to fix and flip, how should we distribute the partnership?

Contractor buddy would be spending time fixing up the house in many cases himself instead of using a crew, how do you account for that vs effort which I will put on design, managing project, purchasing materials, brining in the capital etc.

[Stuart Udis]

What value is he bringing to this partnership? It seems he's merely offering contracting services. As other have said, you are better off using your friend as the GC as he is someone you trust and you can enjoy the upside in the real estate transaction. In the interim, by maintaining a proper Contractor/Owner relationship with appropriate contract and being listed as additional insured under the contractor's policy, you are better protected.