@Dustin Frank I would say 50%. I am counting his 10k your 10k and another investors 10k as 25% position. Then is labor and materials as another 25%. What do you think?
Carpenter wage = $xx/hr
Plumber wage = $xx/hr
Electrician wage = $xx/hr
And so on.
Why not loan him the money?
There is little upside to giving a contractor equity, and lots of downside. Unless he brings a lot more to the table.
@Dustin Frank Why would you give him equity? Either borrow his money or lend him the money. Pay him like a contractor, get paid like an agent, and keep everything plain and simple.
10K is enough to pre-pay for his subcontractors. When you two run out of 20K then what? With three cooks in the kitchen there is nothing but potential problems coming out of this llc.