Structuring Partnership advice
I've got three parks that I own solo and have experience turning around old parks. I'm looking at starting a separate entity that buys parks with investor funds and split up the profits quarterly. I'd be doing all the work (finding parks, hiring and oversite of property management, tax forms, etc.) I'm thinking of putting 0% of my own funds into the deals, but retaining a 25% ownership of the property, and profiting 25% of proceeds of income.
Does this sound fair? I'm thought about different options, but this way seems fair to the investors and fair to me. My attorney suggested that I pay myself a 'salary' for management, but giving myself ownership seems better for the investor (the better I manage the park, the more profit and motivation I have).
Thoughts?