I typically use hard money to fund my projects but I thought it would be great to bring him in as a cash partner.My question is how do you set up the partnership splits since he isn’t bringing all the cash, he is just bring enough to really cover the hard money fees and holding cost.  

This spring I plan to steralize, or I know that they are easily smothered by growing sage grass or bunch grass in the area.

The typical amount is 75% LTV. 

He self-manages them but after being burned once, he has been strict with his rental criteria so tenants have typically been highly educated, and responsible.

I get that they are not done to often but I'm finding that most of the Nod's and Les Pendens have little to no equity and in typical, or optimum, circumstances there is no solution for these home owners except for the bank to foreclose.

Grass we do so we can check up on that location.

Hey Phil, typically no PMI is "baked" into the actual rate of the 30 year loan.

However, that is typically structured at 6% for 5 years fixed, then 20% adjustable with a 20% downpayment.

- This property is in a good area (about 1/2 mile from my primary residence), but is on a large lot with several trees and essentially no grass. 

The typical BRRRR strategy, but such a great way to leverage your limited financial resources.You asked specifically about financing.