How can we share a condo ( co-owners in tenants in common)

[Rudky Martin]

My friend and I are both newbies in Real Estate investment. We recently found a condo in San Jose, CA. We want to buy the house as tenants in common. Each of us will pay half of the down payment. However since my friend cannot qualify for any loan, only I will do financing. The whole loan will be under my name. 

We now are discussing how we will share the ownership of the house. My friend proposes that he will commit in a deed of trust that he will pay me half of the monthly mortgage for the condo till we sell the house or we pay off the house. And in return, he will own 50% of the house value.

Do you think this is fair? If not do you have any other ideas how we can share the condo?

Thank you.