Partnership Scenarios - Buy and Hold, Property Management, Rehab

[Matthew Gallo]

Hi All,

I currently live in Boston and I'm looking at a few places in Baltimore to buy and rent out.  The issue, obviously, is that I'm FAR from Baltimore, so finding and managing these properties will be pretty difficult being based in Boston.

I've been in contact with a few people there that are interested in partnering with me.  Their role would be to find the property, broker the deal, manage any rehab necessary, find tenants and property manage that property.  I would take on any sort of payment/ownership of the property.

My question really boils down to what an appropriate partnership model should look like?  For example, should I just focus on paying the partner a % of the rehab/property management?  Or, should I consider providing equity to that partner?  

I'm interested in hearing the scenarios you have put together with your partners.

Thanks,

Matt