Partnership Case Study exit strategy

[Ocie Gibson]

here is a case study of a partnership exit strategy

To people going into a partnership.  What if the house doesn't sell in 12 months this is how they will dispose of the asset. its a 50/50 partnership with partner abc is earning equity from managing the rehab. partner is earning equity from bring the financing.  the property will be help with xyz partner because the are bring the financing and holding all the risk.

Exit Strategy
If at any point abc partner and xyz disagree on
decisions/strategy, either abc can buy the property or the
 property will be kept by xyz. The property will be
sold to the highest bidder between abc or xyz

Any profits/expenses (such as closing costs) will be shared
between the two parties. Here is an example scenario:
Total cost so far (purchase price + repairs + interest paid to xyz + insurance etc):

 $60k xyz bids $70k
abc bids $80k
abc will be allowed to purchase the property.
Profit: $80k-$60k=$20k
Transfer and recordation costs : $2k
Net profit: $18k
abc and xyz each get $9k

your thoughts on this is it me or something about this exit isn't smooth.