First time JV advice for a flipper

[Mark Leonard]

I recently met up with an old acquaintance. He has flipped several SFHs and I said we should partner sometime since I'm just beginning. He proposed to me that he's going to buy a house and I contribute $25k of the rehab and he pays me back with interest. He sent me over a contract. Does anyone have any advice for me since this is my first JV to not get screwed? I can email the contract template if anyone's willing to take a look at it.