We found the deal, analyzed it and I manage it for us at no extra cost to the partnership. 

Long term hold with everything split 50/50, including cash after refi.What are some ways of structuring this partnership?

Other Creative Methods Home equity — home equity loan or HELOC (home equity line of credit) (HELOC is renewable) — these loans are generally lower interest but the rates can fluctuate whiteout warning when things get bad Partnerships — you can cover each other’s weaknesses.

What did your partnership look like, just 50/50 split?

I entered into a 3-way partnership with two good friends of mine.

Based on the deal structures I'm familiar with, moving to an equity partnership is going to require an LLC and partnership agreement, a CPA to oversee the finances and disbursements, additional reporting, and additional communications and stakeholder management on my part. 

Never in a million years would I ever agree to anything like that in a partnership.  

I would be excited to hear how someone with limited cash/creidt, no hard money, and no private money, no partnerships were able to scale much faster than your plan. 

It sounds like you are creating a business partnership with your long term partner, whereby the two of you will share in the profits of the enterprise.  

Hoping for long partnership as expect this to be the start on MFR.