Have a good property but I'm low on cash. Does this deal work?

[Bruce Clark]

Property purchase price is $100k

Total monthly Rent is $2,000

After all expenses are paid, including management of $200 per month, the cash flow is $600 per month.

I found this deal, but due to other pending deals, I do not currently have the cash for the down payment. I have a potential investor, who wants to invest in real estate but has no real estate experience. Here is the offer I want to make to the potential investor. He pays the down payment of $20k. I pay all closing costs, and we are 50/50 partners in the deal.

I will handle 100% of the management and get paid the $200 per month to do so. Basically, I get into the deal for very little money down. He gets into a deal that he didn't previously have. Other than making the down payment, he is completely hands off, and he still gets $300 per month on his 20k investment which is 18% yearly. I think this is a win win.

Am I missing anything. Is it not a good deal for me? Is it not a good deal for the investor?