So now we have to decide which contract would best fit the situation.I spoke with a couple of attorneys who recommend a JV partnership to help protect him and split the profits 50/50, and they encouraged him to start an LLC, but I don't want to make him do extra work if he doesn't have to.

I would appreciate any suggestions or offers on partnerships.

Has anyone done anything creative with BRRRR's and a partner who's got the good credit score and W'2 job...and if so what's that contract/partnership look lile?

Partnerships will be one way to spread the burden, look for differing skill sets.

This could be a 1 and done or could be a long term structure...how would you structure the partnership or JV and why?

To me, it's a true partnership and we actually decided not to work with some investors with whom we though there was no good fit.

Although you may be able to find someone on BP looking for this type of partnership, this could be a trickier option. 

Do you write him a check and dissolve the partnership?

@Andrew Aladjadjian yes, they could buy the replacement property together as tenants-in-common (not as a partnership).

When should the developer receive the percentage of ownership and how should the partnership be divided up initially, then throughout the course of development?