Also, has anyone used any of these other techniques mentioned above personally and if so any feedback would be awesome!  

Do you have any experience on partnerships and how to distribute based on ownership percentage?

But the guy that owned the place was a great salesmen and taught me some life long techniques for closing.

They will do the "same" marketing techniques for all their clients, a tweak here and a tweak there...SEO and most forms of marketing should be done in house.

I want them to know the various techniques for fixing a foundation and to feel comfortable they’re going with the best company and the best systems around. 

Or be distributed to us each and we just come up with 50% of any expenses as required?

For example his company not only harvested oil but they also transported it with their own railroads and distributed it themselves and sold it themselves.

I have read the ABCs of REI and Commercial real estate for Dummies and they are both very informative books that teach all of the numbers but lack market research techniques and raising capital for the down payment. 

I'm in the process of setting up an LLC for investment purposes and I wanted to know if there are any standards for prioritizing the distribution of profits?

You are a passive investor and typically receive a monthly distribution.