Your proposed structure where the partner provides 2/3 of the capital and you split profits 50/50 could work, but you may want to refine it.

Nickerson added “exchanging” real estate to upgrade to larger holdings without paying capital gains tax to his formula, and a number of other books were written about the subject in the next 10 years.  

It also gave us a platform to raise capital.2 things you should always be doing in real estate, sourcing deals and sourcing capital, and an online presence will help with both.Pick a platform to start and focus your efforts there.Gino

If I can buy sub to, I can buy more properties and continue to build capital.

For the purpose of, say, minimizing capital gain in the same year. 

OngTo succeed in real estate investing, follow these strategies: attend seminars, build an online presence, fund your first deal, learn wholesaling, partner with someone with capital, retain information from books, and achieve a net worth of $1 billion.

If you have no liquid capital, everything becomes more time and labor intensive.

George Washington acquired a significant amount of land this way, and shortly after acquiring such created SYNDICATIONS (he later used JOINT STOCK COMPANIES when they came into existence) to raise the capital needed for development.  

Are you looking to build a larger portfolio and capitalize on velocity of return, or buy a couple solid properties that really pay off in the long run?

We have a capital LLC just for the purpose of lending.