Advice on splitting equity/cashflow with partner on rentals?

[Michael Leeson]

How would you advise splitting equity/cashflow on rentals in the following scenario:

I will provide 30% down payment and oversee rehab and management. My partner will provide 70% down payment and financing.

Thank you!

[James Hamling]

@Michael Leeson

Who - What - When - Where - Why - How

This is what you must have drawn out, in detail, for everything from day 1 to 100,000 and beyond. 

And remember the "what if" side of things or what I like to call the "hit by a bus" clause. What happens if one of you is suddenly injured, unable to complete your duties, in a coma, dead, divorced, gone missing, locked up, etc etc etc. It is of upmost importance to have this drafted out in detail before starting, and as the delegation of things goes it tends to self answer some of the other things. 

If your having all these responsibilities, that admin is another level on top of what you mentioned above. 

If have had a lot of good JV's, and 1 really bad one. That really bad one, took less than a week and I was teflon because our contract had every potentiality spelled out and agreed to.

And knowing what exactly what was required of me in all scenarios helped to really clarify what my compensation should be for a fair deal, and even helped to best show how to complete that compensation. For example, how long will the property be held, and then what, under what conditions, etc etc etc.