Partnership if I don't have to?

[Matthew D.]

Hi Everyone,

This will be my first post of the board. I have spent about 2 years learning, listening, and negotiating on deals - Finally have a deal (4-plex 2bd/1bath) that makes financial sense and want to take this to the finish line. It's a property I think works for me to get my feet wet.

I started my MBA about 6 months ago and someone else in my class has expressed interest in investing with me. Long story short, I can do this deal alone financially and own 100% of this property. Or I can split the down payment, etc and have a 50/50 partner. I am confused on what I should do, as I am the one that found this deal and has spent so much time learning and planning. To me, it would be different if I had to have the money for the down payment to do the deal. For this deal, I don't.

The pro would be that I have a partner that has more capital than I and is an actuary with advanced financial analysis skills. The con is that I will be doing much more day to day work (tenant screen/selection, maintenance requests, vendor conversations, unit turnover, etc). 

Any advice of what I should do? 50/50 partnership is fine, it's just hard to justify that if I have to also put up 50% of the closing costs and down payment. Thanks in advance!