Partnering with family

[Ben Morris]

My brother-in-law approached me about partnering up. We both want to grow and be very successful in real estate. I live in an investor friendly market, he has an investor friendly bank account, but his market isn't as friendly. My bank account isn't as well equipped for investing. What is a fair way to divide the profits if he finances the entire purchase and I do all the hands on work. Meaning I do the due diligence and manage the rental property. I really want to partner with him because I believe we can go further together, but I want to be sure we are both getting a fair deal.