Wes,
First and most important thing. Get it all worked out in advance IN WRITING. Also have an exit plan for when it goes south.

I'm not sure if you belong to ASHI or any other HI organization, or if you are licensed. ASHI's code of ethics actually prohibits inspecting a house that you have, or expect to have, a financial interest.

There also may be regulations about doing work on a home you have inspected, or ethics issues too.

What I have done for inspector friends (that are purchasing a home), is to be the inspector of record, and they just follow me around. It's my report, he is the client, and I get paid. You should probably take off the inspector hat for homes you are going to partner and work on.

I work with several investors, and I have seen a bunch of the partnerships break up over the years. It has always been because they didn't have a clear understanding of who was going to do what, and how the money was going to be handled.

Hope it works out for you
JF