Hello Everyone! 

Thank you in advance for all of the support and feedback that enables me to grow! 

Initially, when I started investing in RE everyone I approached with an intent to form a partnership with to spread/share risk and learn with was a bit timid.

I shared how I like to buy properties under market rent with deferred maintenance because I am able to do relatively light rehabs and raise rents to top market rent value. I explained how I was practicing this method on these smaller multi-family properties because I intend to do this same process with small commercial residential buildings because you can increase the property value by increasing the buildings operating income. Once they understood the goal they took interest and I have an opportunity to work with multiple family members who want to all go in on one deal and use my connections and systems while I manage it. 

We have agreed that because I will use my network and systems to source the deal, rehab, rent, and manage the property I will be putting less capital into the deal to acquire it. The investors will be hands-off and their major concern is monthly cash flow, tax benefits, and if we do decide to sell proceeds from the value add (5-year minimum holding time). 

The part I dont know is how to structure the deal? Is it common to do this type of split investing as a General Partner with limited partners or all as operating officers as an LLC? Is it common to split the cash flow equally based on how much everyone invested? I would greatly appreciate any feedback and comments on other important things I am unaware of when investing with multiple people.

You're the best, thank you again!