Post-close Partnerships

[Cyndrea Brown]

Here's the deal- I recently bought a duplex property that needs some work. Long story short, I'm cash strapped and don't have the resources to have the work done so I've been stuck  for the last few months just trying to keep up with the mortgage with no extra cash to have the necessary work done to be able to rent the units out and start bringing in income. Now- I have someone that is interested in a possible partnership, where they would be willing to invest the cash to make the improvements. Before either of us agree to move forward with this, I thought I'd reach out to the community to ask a few questions: has anyone else been in a similar situation? What are some different ways that a partnership like this would function? Anything that I should be aware of before agreeing to a partnership?