Partnership -- equity split

[Bhaskar Patel]

Hi all,

I'm considering beginning a partnership with a friend from college who has a few rental properties, duplexes, and homes, in 3 states. I would appreciate direction concerning the equity our partnership should have. He would be submitting the downpayment and closing costs for our property. I would be getting the loan. 

Should I have him on the morgage?

What % equity is fair given the above arrangement?

I will be drafting a partnership agreement as suggested in the post below:

http://www.biggerpockets.com/forums/109/topics/946...