Contributing capital to a flip

[Adam Harvey]

House flip

This is probably very basic and my apologies if it was already covered. My cousin is very interested is trying out house flipping. I am more of a rental income investor. He is going to buy the house and take on the entire project on his own. I am just contributing 30k in capital for half of the renovation/rehab. I don't want to be on the mortgage. If he turns a profit I will get back my 30k and receive 25% of whatever the profit is. My question is how does he pay me after the sale and how do i declare that income. They will be no LLC or business associated with this project.