What steps needed to set up a partnership?

[Taylor Brown]

I'm about to close on my first property.  But the other day my mother in-law, who had no idea that I have been trying to land my first deal said "Due to tax purposes, I need an investment property".  Long story short, I told her what I was doing and she said she wanted in.  My question is "What steps do I need to take to bring in an outside investor?"  All she wants is her name on the loan.  She's willing to cover the down payment just to have some debt to her name.  She wants to be completely out of nitty gritty and let me keep the cash flow as well as around 50% of the equity.  Any advice would be greatly appreciated.