I just got into a JV with an experienced contractor on a fix & flip and was wondering what kind of terms are common.

I have a lot of equity in this rental property, and want to utilize it.

Use whatever form is commonly used in your state or jurisdiction.

I would think the more common route is to have them sign a personal guarantee so they would be directly liable for unpaid monies even if their business folds. 

To where, we've purchased properties utilizing VA loans and then renting the house once we PCS'ed.  

After All of my monthly expenses (mortgage, maintenance, utilities, allowances, food...etc) my net income is 3k, which I funnel into my savings as of now until its full funded.I also have $33k in my 403b.

What utilities should a land lord be responsible for paying and what utilities should a tenant pay?

I know it's highly unlikely that anyone with much common sense would do but I'm willing to bet there are some out there that have done it. 

The entry point for the equity investments are commonly £100 ($127) and there is one platform that lets investors start with £1.00 ($1.27).

You can take title to the other 50% as tenants in common.