Partnership question and Ideas

[Joseph Pike]

Ok B.P. members I am needing your help on partnership ideas.  I have 10 Rental houses a 5plex set of apartments and this past year have started flipping houses.  Recently a friend of mine got her real estate license, and she wants to get into real estate investing.  She has been working for a company that manages rental property and until she got her license she was doing all the managing, so she has experience with tenants.  Although there is one problem, with her going to college and getting her license she has no money.  So I proposed an Idea to her, the next set of apartments that I find that we should go into partners.  I proposed that I would be the purchaser and she would have to do all the work.  But since I am the one with all the money into It I wouldn't want to go 50/50 partnership right away I would still be the one with the biggest risk.  I was thinking of trying to structure it where when they are purchased she doesn't have any ownership into it, but each year that they are paid down and she does the work that we agreed on she would get more ownership eventually becoming 50/50 partnership.  I am thinking that, that way she has a little skin in the game.  Can it be structured this way, or are their any better ways?

Thanks Joseph Pike