Therefore - your liability should be limited to the amount that you contribute to the partnership/LLC.Whether you feel 50% is fair or if you should be entitled to more depends on what each person is bringing to the table and what his/her level of experience is.The more experience a person has the more leverage he/she has to demand a higher percentage of the profits.A general contractor/property manager with 20+years of experience likely has more leverage than a contractor who is just starting out.It also depends on what you require as a rate of return.

But, we will get the best rates using a conventional loan.My partner does have enough money in his investment accounts to cover the down payment, but what I'm worried about is when he actually wires the funds at the closing table.

Hoping that the brain power of the masses can assist in providing me with some clarity.We have been going through the process of doing a short sale on a ski condo in Colorado and arrived all the way to the closing table to discover that the HOA had not accepted the short payment that the seller's agent had indicated and as such was demanding that the short sale be re-approved with the HOA getting more of what they are due or else they will continue with the foreclosure process. 

I would use your own title company, it's good to bring your own assembled team to the table @Jenny Stallings

@Ricky StaffordUse historical median price table from here.

I have not consulted an attorney, it's a pretty simple transaction so I didn't think it would be necessary to get an attorney involved to draft an addendum.I'm curious if anyone has any experience in adding these types of contingencies to contracts that protect the buyer all the way up to the closing table?

@Johnny Tsu: I'm glad the tenant moved out and you didn't need to deal with it at the table. 

And lastly the town I live in https://altos.re/r/15fd2d9 you can see this is upper end for the PDX area and things are softening on the 1 mil plus.I am thinking of taking my chips off the table pretty soon...

Account Closed You may not know an issue has come up until you are at the closing table. 

In my opinion, if you don’t have any experience or a large amount of cash, you don’t bring much to the table on a partnership for a larger deal.