Equity Partners - Setting Terms

[Maya Hermelin]

I recently connected with a potential partner who has the capital to fund deals with me. We met at BPCON, they are out of state and I'm local but we both invest in the same market. Their goal is to become an equity partner and we're brainstorming what the mechanics might look like. 

They have challenges I can definitely help with, but it's always going to come down to the terms and how to make it make sense. Anyone who has worked with an equity partner, what are key terms to negotiate, specifically around tax advantages? Any advice on the best way to provide value?