How to structure a deal between two partners, one with cash and one with good credit?

[Ramez Qubain]

Hi Bigger Pockets Community, 

I have a business partner who wants to partner with me in buying a rental single-family home, however he has cash but no credit and i have credit but no cash. How would you suggest doing a Joint Venture deal that is fair to both parties and that is acceptable to the bank (conventional mortgage); i will be finding the property and will be managing it. Also for simplicity, let's assume there is no renovation costs involved.