How to split up profits in a partnerships

[Hub Knott]

Hi, I am looking to invest in some property for rentals. I am partnering with someone and wanting to know what is a fair way to handle the split of profits. I am the one with the money to put on the table for the property and handle the finances. The other partner is the one who can find the great deals wholesale, and does the on the ground management. What percentage split would you suggest?  Thank you in advance. 

[Syed H.]

If they don’t put in any money, 70/30 your way. On any sale, obviously you get your basis back first.