Strategies on how to split deal on Airbnb

[Alexandra LaChapelle]

Hi all! I currently have one operating Airbnb, one long term rental starting in two months, and a second Airbnb (Loft) being built that should be complete by the end of the year. I am trying to scale and offered my investor equity in the Loft instead of paying back the investment. I have also planted the seed for similar deals in the future to allow us to scale faster. 

I am looking for insight on how yall have set up similar deals - some ideas coming to mind:

- Straight equity based on investment (net income (except for P&I) then split)
- 50/50 split and all expenses come out then split (this would cost me more)
- Other strategies?

Second part - what have you set up legally for this if the investor doesn't want to be included in the mortgage? An LLC?

Thank you!