The Chandler Street Tiny Home Village in North Hollywood was built by the Hope of the Valley rescue mission, in partnership with Councilman Paul Krekorian.

@Steven Cramer I agree with @Scott Wolf, I find it better to keep the partnership in a separate entity than in your own name.

My current partnership is an equity split where each partner is responsible for an equal share.

IMO the partnership percentage should be based on many items including experience (new investor in this case), quality of deal, value of the property (the higher the value of property the more risk the person paying the 20% is taking and the more value the other person is obtaining), expected cost of value add ($15k in this case), etc.  

And my wife and I have used Denver real estate attorney @Drew Fein for several issues -- from a real estate partnership agreement to legal language for documents to reviewing leases for our rentals in Denver and Colorado Springs.

If you can bring a little cash and some other skills to a partnership, that would be another option. 

My questions to this group are: -how do I structure the partnership if he is putting the money and I'll find the deal/run the business, can I have more than 1 option?

I would love to get in talks with you about a possible partnership.

A property manager in the market you are interested in investing in will be an excellent resource as well.There are many ways to finance a rental property including traditional bank financing, seller financing, hard money, private money, partnerships, other investors, etc.

-"JV," "Partnership," "LLC": this is where I get lost in the sauce.