Vacation (STR) Rental strategic partnership

[Stacy P.]

Hello!

I currently own a vacation rental that does very good cash flow. My brother is wanting to go in on another one with me, and I am looking for some ideas from others how they may have structured a partnership in a STR deal.

I plan to do the management part (I already have the process down pat). 

We both have some cash to split for the down payment.

 I don't know that I'll be able to qualify for a conventional loan until later next year due to having just taken out the loan for my current cabin this August, whereas he could qualify for the whole amount.

I was thinking in terms of maybe splitting the down payment, him getting the loan, me doing the management piece and calling it a 50-50 split on cash flow and profit when we sell? I'm open to feedback and suggestions!!

Thanks!