Best way to set up relationship?

[Matt Friesz]

Hi BP,

I have a friend who is going to join me in my investing venture. He has the money and no time to help. I have the time and passion to go and find deals. How should we structure the financials? We're looking to purchase buy and holds right away. The properties are in fairly good shape so there isn't really any BRRRR or refinancing in the near future. It seems to me that he's going to be forking out quite a bit of money for the down payments, closing cost etc…

Any help would be much appreciated.