What terms/partnership structure would you offer partner that is bringing much more cash to deal for land purchase and build?

Youll get all the money or partnerships youll need

If a business partner would like to exit their position in a partnership of an investment property with a long-term "buy and hold" strategy how would they do it? 

Partnerships are a great way to get started.

Savings rate of $50k/year  3)busy  work schedule  and limited time for full gut renovations.  4) have two other friends whom i can partner with and  can also contribute $50k/year in equity- i am just not sure how to structure the partnership for best financing terms.

A property manager can make or break your investment if not managed correctly.If you find a great deal, you will find financing for it, whether through hard money, private money, or partnerships (investors).

My biggest lesson on this deal was the value of education and partnerships.

My investing partner and I are in the process of creating a partnership operating agreement.

@Melissa PoirierYour profile mentions that you are an agent/realtor along with co-owning several properties.Depending on how the properties are owned(tenants in common or through an entity) you should make sure that your new CPA understands the taxation behind tenants in common/entity(partnership or corporation) taxation.He should also understand how business taxation works in relation to work as an agent.Good luck in your search for a CPA.

The search function is awesome for specific questions you may have.