Newbie - Help me form a fair Partnership Deal?

[Mehran Namazkar]

A couple friends and I were putting around 5k-6k each towards two properties as our first Real Estate investment (non-primary residency). I have the best credit score of the three, so I will likely be the one to secure the mortgages to get the best rate. What would be a fair split for this situation (Assuming we put equal amounts of sweat equity into renovating and property management)?

We were thinking of having the other two be cosigners for the mortgage, allowing us to evenly split the cash flow and equity as we are all taking on equal cash investment and risk. However I recently read that if their credit scores are lower, this could hurt the rate.