Partanership arrangements

[Wayne Igo]

I know that the parameters of any partnership deal basically boils down to what all partners will agree to.  That said, there are guidelines and "best practices" in the RE investment community.  Consider this basic scenario and followup question:

I want to purchase a property by borrowing 80% of the cost and have a partner/investor cover the remaining 20%.  What would be a fair way to share equity and cash flow?