Typical terms for private lenders?

[Teresa DelaMater]

I have a family member who would like to invest in my first flip. What are some typical terms for private lending that I could propose? My only experience purchasing real estate so far is for my primary residence using a bank. Ideally, he would put up the money for the purchase and rehab costs, I’d run the project and then pay him back plus profit after selling it. I just don’t know what kind of payback to propose. A flat dollar amount or interest rate on the money he put in, or a percentage of the profit? Or some combination of that? I’m just looking for some examples. Thanks!