JV Partnership - Fix & Flip

[Nathan Frey]

I'm am about to partner with someone in the Atlanta on a fix & flip property in the Canton area. I have a draft JV agreement, but the general structure is I would provide the capital (up to a max amount), he'd cover the rest, his name would be on the loan / title, and I would be a partner in the JV / operating agreement. General split is TBD but likely 50/50 or so.

I'd love feedback regarding how to guard against a deal that goes bad / how to write that into the agreement.  Another option for structure is I may just loan $X and ask for a flat percentage fee on  the loan - I'd likely make less money on the deal, but avoid downside.