Looking for information

[Joey Pignatelli]

lets start off by saying I'm really new to this. I have the drop on a nice 2 unit house in Michigan. The units will need a little touching up to make them tenant ready. The price of the unit is what is attractive with price of the property and the touch ups the property could pay its self off in 2-3 years Tops. The house is in a nice area considered River Front District and  just a few blocks from a booming hospital with plenty of Dr. Offices, banks and restaurants within walking distance and beautiful park that you can see from the front porch. My only problem is that I don't have the actual cash laying around to invest so i will be bringing in a partner they will be 100% of the finances. I feel super confident in the property its self my only obstacle is trying to find a win win for the the both of us. If they cover the finances and I handle property management all the day to day operations as far as repairs tenant screening and making sure the payments reach them on time etc. What would be a reasonable split. I'm looking for a complete win win. Any ideas or strategies for writing up the contract would be awesome anybody wanna share any experience with me to help me along my way please feel free to comment I'm looking for all the information I can get thank you 

[Bruce Woodruff]

Quote from @Mike Whitman:

@Bruce Woodruff I see, apologies i misread your comment. I'm pretty new to real estate investing. What would framework of that agreement look like? What would prevent the financial partner from just saying they want out of you wanted to keep the property? 

You'd need to create an LLC, both of you become Officers. Contractor becomes the Manager, Money guy is Treasurer. You can buy one another out by just buying the LLC (if it has just one property)