@Jared W Smith, thank you for the post and contribution! 

Typically, I would base the profit distribution on the initial capital contribution, but I am not sure if that is equitable in this situation as his skills will likely be needed more often than my skills as an attorney.

You will want to review your plan documents, bu the following solo 401k distributions rules generally apply:After-Tax Contributions and Rollover Contributions.

Just excited to learn more and more, and be a contributing part of the community.

Hello BP community,It recently occurred to me the value I can contribute and solutions that can be found in relation to good quality general contracting work that will be up to code and pass any inspection.

And I definitely figured it would be difficult since I don’t have much experience but i definitely have money to contribute.

Thanks to all who contributed to the discussion.Here is the situation, the lease does not ban smoking in the apartment, it only states that tenants are responsible for cleaning and repair smoke related damages when moving out, and if other tenants complain, land lord may enforce non smoking policy.

I contribute 50-75% of his business.  

You do not spend money unless it is absolutly necessary in regards to repair/maintiance and anything additional must contribute to a rental increase with a pay back of your costs ideally within two years. 

We are 50/50 partners in our LLC and both contributed cash to the purchase of a SFH rental, which was attained below market value due to a distressed seller.