Worth it to take on a really small ($50,000) equity partner?

[Nicholas LaGatta]

Hi all,

Having built a successful real estate investing business with my own funds, I'm working on pivoting over to investing other people's money.  I have been on the lending side before and I just did my first debt deal as a borrower.  

I have a higher net-worth individual that believes in what I'm doing that wants to invest, starting with $50,000.  They've got plenty more to invest, but want to start slow and see how the performance is.  Due to the small amount, I offered them a debt-deal with an interest only loan.  However, they came back and said it was really important for them to have an equity stake.  

Based on the deal structures I'm familiar with, moving to an equity partnership is going to require an LLC and partnership agreement, a CPA to oversee the finances and disbursements, additional reporting, and additional communications and stakeholder management on my part. I really don't see it being worth it for such a small amount of funds (considering I am not strapped for cash).

I really want to work with this investor and I see the long term value, but my time is extremely valuable and I don't want to get bogged down in a bunch of paperwork and logistical headache for such a small amount of money.  

What do you guys think?  Is there some easy low-touch way to cut them in on the equity without creating a logistical nightmare?  Is there something I'm missing?  

Thanks!