LLC/partnership arrangement question

[Greg Berney]

Hi all, I'm getting ready to partner on a flip with a good friend. We are both bringing money and experience to the table, though neither in equal amounts. We plan for this to be an ongoing partnership. We plan to have to create an LLC that will purchase the property. We want to do equal work on the project, and have the returns be commensurate with the amount of capital invested for this project and future projects, i.e. if we net a 30% ROI, we each get 30% ROI on what we individually put in at the beginning. The concern is having to identify % ownership in the LLC at the beginning knowing that will change over time and for different projects. What strategies have others used for success with this?