Business Partner Case Studies for Active Investor + Funder?

[Aaron Mikottis]

Hey all. One of my friends is interested in entering into a business agreement where he will provide the funding for a small multi-family property and I provide the legwork and day to day operations. The plan would be to hire property management.

What case studies can the BP community provide for structuring such an arrangement? Is it typical to split the profits 50/50? What are the assigned roles? I'm interested in creating as much order as possible on the front end.

Thanks!