Percent ownership in a joint project (sweat equity vs. cash)

[Anca Lunn]

I have a partner who is willing to put in 100% of the cash up front for some properties we are looking to buy, rehab and either sell or rent. I told him I would be willing to put in sweat equity. The question is - does that mean that we would go in 50/50? Is sweat equity worth as much as cash or less? I have been told less, but I'm not sure how to value it and what would be a fair assessment for both of us. Any insight would be very much appreciated. Thanks!