Forming a new partnership

[Jesse Dickens]

I'm looking at starting a partnership with a local REI/contractor that I met at a meet up. He is looking primarily for 'gap funding' because he uses hard money and basically needs someone to fund the downpayment/interest on the hard money. He is willing to pay me the same rates as the hard money (1 3/4 points plus 10% interest) as well as a small % of the profit.

This would be my first deal and am looking to learn first and foremost. He said he is willing to walk me through everything that he is doing, but that we should probably factor that in to what my return should look like. He went through one of the local RE training programs and I've met with him a few times (he has a good reputation and I trust him). 

Just looking for some advice as to what a good partnership agreement should look like. Any help would be greatly appreciated!