Are JVs Common In The STR Space?

[Zackarias Aitchison]

I've heard of plenty of different JV splits and set ups in other real estate spaces, but is that common in the STR space?

A common thing, at least up here in Canada, is one person will put in the money, and the other will put in the sweat of fixing up and managing the entire property for a percentage of the profits. 

Is this also a common strategy used in the STR space? 

If not, why not? 

If so, what are some of the different splits you've seen or heard about in the past?