Needed: Ideas for Splitting Profits in Joint Ventures

[David Flanders]

Good afternoon.  I'm seeking advice on how to best to split profits on joint ventures, given the following roles/abilities:

Me: finance deals

Partner: rehab the properties

We both have the ability to find deals and sell properties after rehab.  I assume whoever finds the deal, that will influence the profit split.  

For flips, profit would be split in one way or another (seeking your advice), but on buy and hold it seems more complicated, as only one of us would retain ownership.  Granted, we can alternate each deal in terms of who ultimately holds the property. 

Thank you!