If the entities are not disregarded, they could be partnerships and a quit claim deed would be transferring the property into another partnership, which would likely pose problems for the 1031 Exchange. 

Questions:
1. If you invest with someone and they are the one doing the leg work; How do you divide up a profit? Example:  Let's say I invest $40, 000 on a deal and my partner invest $10,000 on the deal but they are ...

If its variable, I guess during partnership meetings you will capture that in your meeting minutes or resolutions when you do additional investments. 

What steps would take to solidify this partnership and how would you split profits?

I haven't heard of anyone recently who's admitted to actually getting a loan on a NPN.My business partner had prior partnerships that were set up like debt at 12% and that interest rate didn't work.

It doesn’t make sense since for a “normal” LLC, you either do a partnership return if you have multiple members or just a regular personal return if just one person.  

What have you guys and gals seen Deal Makers/Deal Finders get as a percentage of equity in a partnership/deal.

@Jeffrey HillenIt looks like you have to file a partnership return for the LLC.The partnership return will distribute a k-1 to you and your dad which you would then use to file your individual return.

My question is what would make this partnership fair?

Personal Cash savings, partnership, and conventional bank loan.