Arrangement on Potential Investing Partnership

[Charles Thurber]

Hello everyone,

Outside of my current investment-team in PHX & DAL, I have suddenly come-across an opportunity to find & oversee flip/hold deals in a separate city that I reside in for part of the year.  Because my our team is currently investing in diff markets - these deals will be 100% funded by an outside investor.  The numbers on each deal will need approval by the investor but otherwise most work will be done by me and a friend/investing partner.  

Has anyone had success in a similar situation?  What's an appropriate agreement regarding portion of the revenue distribution?

Thanks for any/all feedback.

Charley