Is the private money buying equity or is it a loan?

[Jason Lam]

I am looking at potentially partnering with a family member on a deal. We're talking about a 50/50 split where he would do all the improvements and get the bank financing while I bring the downpayment and closing cost. This would be a buy and hold property and not a flip.

I know there isn't really a "normal" here but what would be expected if you were the one bringing the cash? Would the cash be a loan or would it be to buy equity and you only cash out on the sale of the property?