For Formal Experience - Structure Partnership w/o Financial Gain?

[Dorianne Reynard]

Hi all,

My good friend is currently working on a Fix & Hold (already owned). We don't mix business with friendship. IF...and it is a big IF...I offer operational/management/hands-on assistance in the Full-scale Rehab for zero financial interest--to gain formal experience--how should we structure an agreement? And the exit? I think it would only work if I'm out before a renter is in place, property produces income.

Purpose: My purpose is to have something tangible to share with (1) Future investors/partners, (2) Lenders, (3) State/Federal/Private Grant & Loan applications.

Current Example: California Department of Housing and Community Development (Department) requires experience to apply for programs under this year's (and presumably next year's) Notice of Funding Availability (NOFA).

Thank you!