Need help doing a fair deal with partner

[CJ Witmer]

Looking for input and suggestions on the fairest (?most fair?) way to split a deal with my partner/cousin on a property.

Some things that may be relevant:

- It's an auction about 1/10th of a mile from my own home.

- He's is putting in all the money, not to exceed $125k. $10k down, non refundable.

- I brought him the deal as he's about 60 miles away in a high $ market.

- I would manage.

- We (my wife and I) currently own 3 duplexes and have done renovations on several so we have experience.

- He has no properties as of yet.

- Final agreement would be written up via a Lawyer.

- His goal is to get into the rental game.

- Our goal is to increase income and decrease debt for 2019 on current properties.

We're looking for the most fair way to split this up and would like BP's input. We've discussed some ways to split it, but I don't want to influence anyone with what our thoughts are. I'm sure there are probably some important items I've left out, so let me know if there are relevant items I should include.  Main priority is that we both mutually benefit and secondly, no awkward family gatherings where we sit at opposite ends and can't even look at one another.  :)