50/50 Partnerships for STRs

[Kyle Smith]

I’m considering going in with an investor on a new cabin. I would help manage the construction and also manage the cabin booking, etc. The other partner will own the cabin and take care of all financial obligations.  

I was considering a 50/50 split once the cabin becomes rentable.  Has anyone here done a 50/50 partnership similar to this?

I’m curious, with the financial investor owning the cabin, what would happen if he/she decides to manage it themselves or get tired of splitting the profits?  I’m sure no financial investor would be willing to tie his asset to a non-owner indefinitely.  What if he feels the cabin isn’t performing as well and wants out?  How would I recoup my invested time, travel expenses, managing construction, setup of airBNB tools, and establishing a solid rental base, etc?

thanks in advance….

[Andrew Street]

@Kyle Smith the deal makes sense and Bigger Pockets talks about these kinds of deals a lot, actually. There are three things to consider in a partnership. There is Knowledge, Hustle & Money. If you are not bringing the money, then you need to bring the other two attributes to the deal (Knowledge & Hustle). There's nothing wrong with have a partner who brings the money and a partner who makes the entire deal happen.