Need Partnership Advice for contractor& silent investor

[Nomis Ruelas]

So my background, I have 9 rental properties and have successfully done 2 flips on my own. So not brand new, but still learning.

However now Iv reached a point where I have more deals then money. I worked with a contractor, and he has a rich friend that is interested in putting up the funds to fund deals while I organize the deal, my contractor fixes up the property, and the rich friend funds the deal. Right now we are looking to focus on fix and flips

I have my own LLC for my 9 rental properties.

I want any advice you can provide in how to structure this partnership the best way possible . Such as should we all have our own separate LLC and then have 1 LLC that handles all the deals but then pays each(3) seperate LLC seperatly? Who should have name on title? Ect

What are some potential pitfalls people have experienced. Also what is the fair payout. Off the top of my head I am thinking:

Me (the brains) : 40%,

Contractor (the muscle): 20% (since he will be paid throughout the construction phase, and then 20% of profits after home sold)

Rich Friend(The Cash): 40% since he will be providing all the money for the deal)