Financing an Equity Sharing New Build - Advice?

[Jerry Lakey]

I've found a small home builder that needs financing.  We are considering an equity sharing relationship.   I supply the financing, he supplies the build.  We split the equity once we sell.  I'm looking for deal structure, pros and cons, tips, etc.

My goal is to buy some of these new small affordable starter homes at a price that will cash flow, after foregoing my half of the equity split.  I think the builder will want to do the same thing at some point.