Question on percentage splits for investment partnership

[Ben Baye]

Hello Everyone,

I have a potential investment partner and we have some questions as to how we would split our percentage of ownership based on risk/involvement. I will layout the scenario and any thoughts or previous experience for similar situations would be appreciated.

My contribution:

Acquisition of land for new build (4 plex)

Planning for blueprints and lot layout

General contracting 

My crew(s) would do a majority of the work for the build at cost

Property management 

His contribution:

Down payment 20%

We are discussing the possibility of him taking full responsibility for the loan, but given that the loan typically is paid out of the gross revenue I'm not sure how he could take on the full loan amount out of 50% net profit (EX: $4000 rent - $1000 property expenses = $3000 net rent, each of us would get $1500 and out of that he would pay the mortgage of whatever) My concern with that dynamic would be that the mortgage will likely be over the 50% net amount and leave him in deficit monthly. 

I'm thinking we would need to go the standard method of paying the mortgage out of rent and splitting the net profits at the end. 

He would like to be 50/50 but given his contribution in comparison with mine I'm not sure what a fair percentage split would be. 

Thoughts or questions to clarify???

Thank you