Opportunity for starting private practice in health care with a partner, but I don't have the capital for initial investment.

I am a new graduate in allied health (rehabilitation/therapy), and I recently connected with a veteran in the field who is looking to start a private practice. She has been working in the field for over two decades, and over time accumulated expertise and the capital necessary to start her own private practice. Her vision for the private clinic is to use art and other creative mediums for therapy, and she believes that my background in creative arts (7+ years), as well as my knowledge on the latest research and theories in the field, will be assets to the business. We chatted about the business yesterday, and we seem to share a similar passion and vision for building a new type of clinic for our future clients. She has a great personality, and we seem to get along quite well.

My question is this: what level of involvement would be the wisest for me? As a recent grad, I do not have any money to invest in the initial start-up cost, and I am also in need of mentorship to grow as a practitioner. My potential partner, on the other hand, is supplying the initial cost to secure a business property. She already has a business plan with budget for the first five years drafted out, and has been scheduling meetings with investors. Long story short, she has put in a lot of work into the business already.

As we flesh out the details of the clinic, I anticipate I will be contributing significantly to program development, business design, marketing, and social/digital media. I will also be working full-time and running sessions as a practitioner. But with minimal capital investment on my part, is it realistic to anticipate/propose a significant share in the ownership of this business? Considering how early it is in my career (and with measly savings), is it unwise to enter a general partnership should the business fail? Would it make any sense if she proceeds with a sole proprietorship and hire me instead? Will my prospects change if we form an LLC?

What entices me about this opportunity is that her vision for a business closely matches up with the type of work I wanted to do in the field. Because it is a dream of mine to run a business like the one she has in mind, I can imagine myself tolerating the long hours and other hardships. Also, my potential partner can help me overcome the biggest hurdles to starting my own business - the start-up cost and mentorship/extensive clinical experience.

Thank you for reading through this long post!