Working with Partners

[Spencer Barker]

Myself and a co-worker would like to get a house to rehab in the next few months. We both have rentals and have done a flip or two ourselves. His wife is a licensed realtor so no or minimal fees will have to be paid on 1/2 of each transaction if bought and sold through the MLS. His father-in-law has had his own business for years and would like to put up the money to fund the deals with my friend and myself taking care of all the labor (unless it's in the field of hvac repair or something specific that would need completed). My question is, what would be a fair split between the 3 groups? 1/3 ? I've done the 50/50 with one taking care of the financial and the other taking care of the labor. But with a 3rd party involved I'm curious if the financial side would get 50% and the other two doing the work would split the other 50%. And if that's the case, would my 25% be worth it?