Money Partner Structure ?

[Trey Stiles]

Considering doing a few buy / improve / sell deals with an old buddy of mine who's made a living as a RE Agent for 30+ years.

I'm an early retiree , have owned commercial RE deals , MFH , SFH for 20+ years.

I'm trying to set up a structure that is fair to both parties , and gives us plenty of motivation to do 5-6 SFH buy / improve / sell deals per year in solid neighborhoods.

Any comments on the following structure :
- Funding partner funds 100% , co-ords legal & admin , proforma & budget , secondary participation in rehab co-ord and finding deals
- Selling partner , finds deals , primary rehab , sells deals

- Funding Partner earns 1.5% return on equity per month
- Selling Partner earns commissions on each end of deal
- 50/50 profit participation

- Form LLC for holding ( both ) and separate LLC for funding ( me )

Is this " reasonable and customary " , " win / win " ???

What am I missing ?

Thanks in Advance