Deal Structure with Partner

[Ryan O.]

I have a partner willing to fund the purchase price and half the rehab/holding costs of a fix and flip. Is a shared appreciation mortgage the best way to protect his interest and make sure I'm not stuck with all the tax liability after the property is rehabbed and sold.

We are more concerned about sharing the tax liability than making sure his investment is secured with the property. With that being said, is a simple written agreement that states how the profit will be split a better/easier way than recording a SAM.