I found a property and partner, How to structure this Deal?

[Ron Ramsden]

Background:  I was an investor earlier in my life and just sold my painting company.  I found a 4 family that is currently vacant and needs extensive work which i could do most as I have the time and funds.  I asked for advice from My financial planner who i have known for years and he would be interested in investing into it as well as a friend of his which would fund the purchase price.

I would like it to be a three way partnership as them funding the property and myself funding the same amount in the renovation. My question would be how do I account for my labor as an investment?  If I fund the 150k cash out of pocket for the renovation in materials and work I can not perform (electrical/plumbing) How do I account for physical time and labor with this deal?

Thanks