Building Contract with Private Financer

[Jodi Taylor]

Hi all, 

I have a building under contract and I have an investor funding the entire project. We are both new to working with a partner and trying to figure out the dynamic for the contract/risks/etc. The initial thought was a 70/30 split (me at 30) - investor funding all the cash ($250k) while I do all the work. We both have concerns about what happens if more funds are needed, what happens if we are going to default on the loan, etc. 

Can anyone provide insight on how they usually structure these deals?

Thanks!