Credit Partner split. Little advice?

[Samuel Ksiazkieicz]

Evening everyone. I was approached recently by a respected investor in my area to be a credit partner. Said investor has a home under hard money that he was going to flip but now has decided to rent until Oct and then live in for the next two to four years. I have high credit and no mortgages. He proposed me getting a mortgage and buying this house, he would make the downpayment and all monthly payments as well as giving me a $2,500 up front fee and 20% of the profit on the back end in two to four years.

I have no experience with this sort of deal, do these numbers seem good to you? I am putting my name and credit on the line and taking out the mortgage but he did find the home and is making the downpayment and all monthly payments.

Is there anything else I should ensure is agreed upon? I will also be asking that the profit percentage takes in the equity paydown of the four years and that I get a cut of the cash flow from the rents to October, although again, not sure how much of a % of these is right?

Besides that, am I missing anything that I need to cover my back? He said the deed will be put in a trust but I feel that I would want to own the deed so if he does stop paying (he is highly respected and I would not ever expect this to happen) I can sell the house. And then we will also have to agree on if either of us disagree on selling when the time comes. Anything else?

Thanks a lot