Partial ownership deal with Angel Investor

[Calahan Hempe]

BP Community,

Background: I am from St. Louis, MO, but while going to school in Colorado, I found myself doing handyman work for a vacation home owner. She told me about their portfolio of properties and talked to me about their rental and investment strategy. After deciding to move back to St. Louis, she mentioned they would be very interested in buying a property for me to live in and have joint ownership of while handling the property management responsibilities while being compensated for my time doing handyman tasks. We are considering a 4-Unit rental building.

Question: If anyone else out there has had a similar situation, how did you structure the deal? How did you make sure both parties were getting enough out of it to make it worth it? How did you structure the LLC or S-Corp in order to divide a percentage of ownership in a way that was sustainable? I fully trust this investor, as they are friends and are considering this because they fully trust me as well, but I would still like to be able to have an exit clause worked in just to be sure.

If I am not asking the right questions, please offer me suggestions on where to start. I want to make sure that both of our investments are justified and as safe as possible. 

Thank you for any help you can offer!