Hey @Dow Lin - the operating agreement of the LLC should cover the terms of the partnership arrangement (including initial capital contributions and any loan/payback terms).  

It is really a function of rent vs PITI if nothing else is factored in. 

Are there any real differences in how the partnership would be set up? 

There are a ton of great posts on here about how to find a good PM and what questions to ask, just use the search function and start digging.  

They can invest either through equity (like a partnership) or debt (private lending).

HelloMy question is about how to structure a partnership when one partner is funding a majority (or all) of the deal but has less experience.One member of the partnership has fairly extensive experience flipping houses (around 20 flips completed) the other member doesnt have experience with rehabbing/contractors but has other RE experience.

As far as the IRS is concerned an LLC does not exist  it is nothing but a sole proprietorship until an election is made to treat it as a C corp, S-corp or partnership.  

Hoping that this post will get some attention.Is there any way to have a "View First Unread Post" function?

Light kitchen and bath remodel, paint, improved functionality.

Light kitchen and bath remodel, paint, improved functionality.