Brrrr partnership options

[Michael Fuller]

I would like to implement the BRRRR strategy out of state. I have a potential partner in the area that is much more experienced than me. I'm wondering what kind of partnership agreement could work in the scenario where I find the deal and he finance both the purchase and renovation and I cash out refinance it and get the money out.

I think he may be more interested in a quick cash out and I'd like to buy and hold. What are some ways to structure an agreement where I can retain and rent the property but he can get a good return as well? Is that feasable with a BRRRR deal?