Anyone with advice on a way to structure that makes both parties comfortable? 

I definitely need to implement a way that makes it beneficial for both parties.

But that’s the part I am nervous about, because I am unsure of how it works and what my mortgage will be after.

Figure out which each part is worth to you both and then calculate who gets what % based on what each of you put in.

The best part is there is wording waiving their right to 10 days notice to quit.

Maybe a tongue in cheek Valentine's day party for soon to be divorcees?

:@Hai Loc that seems highly speculative and leaves a lot of time for something to go wrong and depending on how much needs to be put down, the return does not seem worth the risk even if it was a small percentage of someone's investable capital.I totally agree it's pure speculative.. the sad part is lots of people have been making a killing on it.. its definitely not my cup of tea but I bought a few at the right time and to be honest got lucky..

This deal didn't make it.  6.5  months later I  get into contract with what I thought was a different buyer, but it turns out the same party as last time hiding behind a LLC. 

If I have an interested party with the capital needed to fund a flip/buy and hold what does a typical agreement look like?

Again, I highly recommend being above board with both parties and have strong written agreements in place.