Over a year member intro and also in need of advice

[David Van Den Heuvel]

Are you ready for a long introduction? I have been a member of Bigger pockets for over a year now. The site is great and I have been doing my research. I read the books and do plenty of outside research. However this is my first post and even though I know I am amongst like minded people I haven't posted until I felt like I was in a position to invest and had more knowledge. Mostly due to the fact that everyone I talk to about my interest in investment property tells me how bad of an idea it is. Finally after moving around after college for jobs and then paying for a wedding I am ready to make the plunge. I have gotten to know a commercial, multi family, and single family investor over the last year and 6 months. He doesn't work another job, his job is investing in properties. I feel like I can learn a lot from him and learn from his mistakes. ( I already have learned a lot) I have been sending him some properties and bouncing some ideas off of him. Recently we came across some properties that he said he would be interested in investing in with me. So I am hoping I can get some advice on partnerships. As far as the properties go the numbers are looking good. And I don't think he would try to pull one over on me but I want to make sure I cover all my bases. We are looking at a 50/50 partnership.(down payment/ repairs/ profit) Any advice as far as partnerships go would be great.