That is hard to do with a successful business over longer periods of time. 

I think your proposal for splitting profits makes sense, but I would define a time period and write up a contract.

The IRS has stated that a time period of "two years is sufficient".

Books can often be written for a period in time and a mentor can evolve and help you evolve as the times change.

Arizona has a wait period to file.

Since you posted this in the BRRRR forum this is the formula I use to determine the bottom of my range:75% of ARV - Closing Costs of Refinance - Cost of remodel - Closing Costs of Purchase - Carrying Costs - Buffer for Negotiating + Expected cash flow for 8 monthsI add 8 months of expected cash flow because it makes sense to me to view an individual BRRRR deal through the lens of a 1-year period.

For them to do a reassessment of ~35% increase within a 3 year period is not out of pocket, when you have 20-30% increases happening to some states/counties within less than a year because of the buying that's going on. 

Neither the other co-owners, nor the sponsor, nor the manager may advance funds to a co-owner to meet expenses associated with the co-ownership interest unless the advance is recourse to the co-owner (and, where the co-owner is a disregarded entity, the owner of the co-owner) and is not for a period exceeding 31 days.The co-owners must share in any indebtedness secured by a blanket lien in proportion to their undivided interests.Distinguishing a Partnership From Co-Owners of Leased PropertyIn the case of property to be purchased by more than one equity investor and subjected to a long-term triple net lease, it may be possible for each equity investor to structure its participation as a purchase and lease of an undivided interest in the property, separate from the other equity investor's transaction, so as to preserve arguments that the equity investors are mere co-owners.

Do I need to wait a seasoning period for it?

You'll do better than inflation over really any period of time with well-managed and diversified investments made in static acquisitions, but you won't make real money unless you have the skill and capital to pull off 1a or 1b.I for one have been very reluctant to learn about blockchain and the market luckily I have seen how it simply affected the stock market, take BTCS for example.