JV agreement management fees
Is it common to have management fees as an EXPENSE in a joint venture, or is it common for one partner to put up the money, and the other to oversee the management 'for free'? I'm working on JVs that require a big renovation to get the property into rental shape, but after the property is cash-flowing & the renos done...am I expected to just keep managing things myself as my contribution to the deal, or can it be hired out, leaving me to 'manage the manager' and communicate with the money partner?