Partnership contract options

[Ryan James]

New investor with possible partner option. Possible partner is a contractor who will be working my latest deal if I can get purchased out of foreclosure. He also has flipped and recently purchased his first rental. His loan officer shared an off market deal and he approached me on partnership. Wondering what is best for agreements if I put up funding and he provides labor. What type of splits or advice where we’re both protected and compensated appropriately. Appreciate it.