Partnership arraignment help

[Phil Jones]

Hey there!!

Thanks for taking the time to read this and hopefully shed some experience and light on this.

I am a new investor with a background in construction from custom builds to renovations.  I have a person that wants to invest with me.  As an example, we are looking at a distressed home that will cost $15K and $10K for repairs, $25K total investment.  This property will rent for $850 a month.

He will put $20K up front with little labor involvement.  I will put $5K upfront with majority of leg work and management of purchase, repairs and property management.

PLEASE help me how to structure this arraignment either as a partnership or as an investor/contractor relationship.

Phil