Recommendations on investment structure

[Bill Fleming]

I will give everyone a quick overview of my situation and then ask my questions. I live in NY, Staten Island to be exact, and am presently a renter myself, with little to no expendable income for investing. I do however have a close friend that has recently come into a windfall of $$ and is looking to do some investing. I have for years been interested in real estate and have read multiple books, websites, etc. All that being said, I have a few questions:

•Normally how is a deal like this structured? What percentages should be offered?

•Any recommendations on what I should look at for our first deal?

I know I’m probably all over the place w/ this post and I apologize if this came off rambling! There are so many things I want to write, and questions I have, but I’ll save them for a later time. :D

Thank you in advance for everyone’s help, I really appreciate it.