A 50% split would give him half, which I am sure is significantly higher than he's getting with his safe $ thru his advisor.

Even your own warm-market people may need a safer, more lucrative haven for the funds they will depend on in their later years.Private money is like so many other aspects of REI - challenging to become established in, highly advantageous once you do. 

The 17th Street bridge was completed in January 2004 and the first round of retail establishments opened in October 2005.[1] Atlantic Station received the EPA's 2004 Phoenix Award as the Best National Brownfield Redevelopment, as well as the Sierra Club's 2005 America's Best New Development Projects listing.[6]

Try to establish a face to face local relationship if possible.

Isn't it in my best interest to establish relationships with some of the local banks along with the big guys?

The question I was hoping to gain some advice/input on is how to establish my business partner's equity in the property.

At some point you will use a commercial lender and they are more likely to work with you with an established business.  

We'd love to spend more time with family, do more volunteer work, and establish a permaculture farm together -- and teach as many people as we can, as much as we know along the way! 

I would definitely be a bit nervous working with an out of state company myself...super important to do careful research to ensure they are legit and established like you said. 

I have a fairly established rehabbing/wholesaling business (done about 115 deals since 2010), and am considering bringing on my best friend from college into the business with me to help me scale and start a Brokerage business.