How to Stracture a Partnership on a VA Loan Assumption / Subject-to Deal

[Dani Beit-Or]

I'm developing a new investment partnership model with an investor, and I’d like your help refining and making sure I'm not missing anything.

Here’s the idea:

I’ll bring the deal—locate it, vet it, negotiated—typically a single-family rental with either a subject-to or VA loan assumption structure.

The investor brings the cash needed to close.

I may or may not use property management; I might self-manage.

Example: $300K house with $200K mortgage → investor brings $100K cash, I bring the deal and mortgage.

Key questions I'm working through:

1. Who holds the mortgage risk? or do we share the risk?
2. How do we structure equity—cash vs. mortgage in terms of partnership in your opinion? is it 1/3 - 2/3? does that change if we refi?

I'm looking fir idea on how to split the equity/profit in such setting - how would you do it? 

Thank You!