Outside opinions on the structure of this Joint Venture

[Greg K.]

So I am up against a deadline for a reduced payoff of a non-performing mortgage that otherwise has spiraled way out of control.

Reduced payoff - 645K

Deadline - a couple of days

Pay off required after deadline- 790K

As is value of home:  ~950K, but with some rehab can be condo converted and sold for much much more, based on comps.

Neighborhood is nearly impossible to buy property in right now, due to upcoming public transit and huge changes.

3 investors came willing to do a JV as follows: Simple split of profits 25%

My role would be passive.

I felt this did not make sense for me because the value of the property - the buy in for acquisition = My equity, which is thus my capital contribution .

So for example if I wanted to buy myself out a week into the project, i get zero, even though I contributed my equity.

I offered this deal instead:

For my approximate 25% capital buy in via equity + me bringing a very hard to acquire deal to the table, should give me 25% of the gross value, at any point.  This incentivizes me to keep my money in until the end, but allows me to exit if for some reason I need/want to, with a fair share in my hand.

Is this a reasonable request?  If you were partnering with me on such a deal, how would you feel about  this structure?