Equity Structure for Partneship

[Sean Walcott]

I live in California and am forming a partnership with a local real estate agent in another market. I am really happy with how we are working together. I need advice on how to structure the ownership of the business. We will be buying houses and placing them within an LLC. I will be providing a majority of the funding for the LLC, and they will be contributing as well. Here is an example:

House #1: Acquired with $50K in capital 

Partner A: $40K

Partner B: $10K

1 yr later....

House #2: Acquired with $70K in capital

Partner A: $35K

Partner B: $35K

How do I create the ownership structure of the business? 

THANK YOU