How to creatively structure a deal with JV partner?

[Jeanie Zepponi]

Hi Guys!  

I'm working with a individual who is interested in investing in the RV campground that I have under contract.  He realizes the CRAZY earning potential it has based on the current market rates that other campgrounds are getting near us.  And they are ALWAYS booked with serious overflow business that we could tap into.  We are looking at a structuring a 50/ 50 JV partnership.  My contribution...I'm bringing the deal (the opportunity) to him, I have the concept with tons of pics of the type of product that we would build out (RV sties and cabins), I've done all the due diligence, and will do all the work getting it improved, etc.  I'm putting in sweat equity.  He's bringing the money....50 to 100% of the cash.  He's good with all that, and our split.   However, he has been burned in some of his past investments with others and swore he would never partner with anyone again.  However, he loves this deal...and knows, likes, and trusts me.  However, he wants protection. I totally get it!  I want that too!  Do you have any ideas on how to structure the deal so he is protected?  Let me know if you have any questions. I would love to get your feedback!  Thanks in advance for your time and your professional input!