Deal Structure - does this seem fair, what should I ask for?

[Laurent Attali]

I am offered the following deal:

I will lend 120K to a company that will get another 460K from the bank to purchase and rehab a multi unit.

During the first year the company will rehab all the units. 

At the end of 12 months, the company will refinance the building and give me back my initial 120K loan in full (no interest) and I will get 30% ownership position in the property and participate in all cash flow distributions. 

I'm interested in developing a longer term relationship with this company, and this will be our first deal together. I'm looking for any comments or advice on this deal. Does it seem fair and sensible? Are there any questions I should ask the company or are specific numbers or terms I should inquire about? Are there any ways for me to protect my investment? Any sort of feedback would be appreciated.

Thanks