Trying to decide as a partnership if we donate land  into a partnwrship and profit share 33% on a multifamily OR ask for a set amount per unit in addition to land valuation OR ask for a percentage of actual sales prices!  

Trying to figure out how to structure a partnership, how to split profit but mainly how to finance and share tax benefits.

I would scrap the idea of a partnership idea.

Quote from @Brandon Callahan: I had someone that I trust and respect approach me about becoming a partner in some real estate deals, but I have some questions about what would be a fair in terms of ownership given this potential partner's proposed partnership/ownership structure.

Such a great point about not giving credit/equity for doing something - this is a lesson I learned during my first partnership and something I’ve approached differently in subsequent ones.

Quote from @Julius Vincent: Working with a client whose 3-way rental property partnership (bought with friends) is falling apart.

I think the structure question was answered well but there are several possible ways to form a partnership. 

If the partnership agreement states that profits and losses are split 50/50, then each partner will be allocated 50% of the net income or net loss from the project—regardless of who paid which bill.

I'm trying to get to a more comfortable point where I'm more confident managing a GC on my own, but until I get that experience I'm curious of your thoughts of doing a JV Partnership with a GC. 

Be cautious with how much control or decision-making they have to avoid crossing into partnership territory from a legal or tax standpoint.