Partner Structuring/Funding Question

[Paul Altman]

Hello

My question is about how to structure a partnership when one partner is funding a majority (or all) of the deal but has less experience.

One member of the partnership has fairly extensive experience flipping houses (around 20 flips completed) the other member doesnt have experience with rehabbing/contractors but has other RE experience. The less experienced partner has capital and agrees to fund all or a majority of the project and be as hands on as possible and help with as many tasks he is capable of or instructed to do. 

The experienced flipper would basically agree to show the other his process of how to rehab and deal with contractors throughout the project in exchange for funding the deal. They would either split the profit 50/50 or maybe give a little more to the experienced side depending on who brought the deal.

My question is would it be fair to expect the partner putting up the money to fund the entire deal (purchase and rehab) or would he only be expected to maybe just fund the purchase and no rehab or even just do 75% of purchase (or ARV) similar to what a HML would do to create protection buffer?

Thanks in advance