Buy & Hold Partnership Structuring

[Mark Smith]

Hello all!

I am in the beginning stages of forming a partnership with another BP member, so I'm looking for some advice or suggestions on how to structure the deal.  I would only be bringing 10-25% of the up front cash to the table, however I would be doing 100% of the managing.  How do you put a value on the management portion?  I know this can vary depending on the demands of a particular property, but I'm just looking for general thoughts on this.  I would be collecting rent, handling the accounting, finding tenants when necessary, and dealing with any repairs or tenant issues that arise.  How about suggestions on how to dissolve the partnership down the road?  These are things we want to have lined up from the get go so we both understand the agreement.  Thank you for any advice!