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? 

[Andrew Steffens]

Most properties I own I have partners on.  This has allowed me to have many properties instead of few.  However, these are people I have known for years and have done a lot of other deals with and we all bring something to the table.  One example is our largest property, 3 of use are equal 33.3% owners.  One partner found the deal and is a GC who managed all of the renovation at cost.  I manage and handle all of the day to day operation of the property.  Third guy was the money guy.  It works, but you must lay everything out clearly and in writing - even in my case where we have done deals together before.