Buying property with a partner

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Hi everyone, 

I have a property under contract and I'll be buying it with a friend of mine. I'll be putting down 20 % and we'll be using his credit to purchase the property. Since he's doing me this favor, I'll pay him 3,000 for letting me use his credit to finance this deal. 

He is concerned about how he'll be taxed once we sell the property. Is there a way to structure this deal without him having to pay any taxes when we sell the property? He needs to be added as a co-borrower.