Money Partner Deal any suggestions?

[Christian Hutchinson]

I found a small apartment building.  I can afford the purchase but the building requires full rehab (can't afford to spend the money and not have something coming in for 8 months).  I ran into a contractor who has the capital to complete the rehab. He suggested he partners on the deal. I secure the property and does the rehab, and he is paid on the back-end once its occupied and refinanced.

How does a deal like this work? Does he go on Title? whats his premium for awaiting payment, etc.

Whats the best way to attack something like this?