Partnership Arrangement- Down Payment Strategy

[Adam Costa]

Good morning BP, 

In the early stages of putting together a formal partnership for a buy and hold purchase. I am looking for some opinions on structuring the deal. We have both agreed that everything will be 50/50 in terms of ownership, that is mission critical. My partner is in a better place in terms of capital and I am handling ops (I'm a licensed Realtor in DE and PA and manage a KW office). We are going to self manage and we are shopping in the 80-110k range for a long term hold. We have had some "back of the napkin" discussions about initial funding. For simple math- if we need 20k to close and he puts up 15 and I put up 5 what is the smartest/fastest way to get to even aside from my Partner receiving a the larger portion of cash flow until his 5k is recouped. 

Other factors- 

-Plan is to buy with residential/conventional financing. After an acceptable period of time xfer the deed into an LLC and hold the debt note in our civilian names.

-We will be meeting with my CPA to discuss strategy as well. 

Thank you.