% payout for all parties???

[Mike Cooney]

I just joined the site and have flipped a few houses on my own. I am sure my question has been asked and answered because it seems very basic but I just don't know the answer so here goes.  I have someone who wants me to invest in properties so I would buy the home to flip and it would be in my name. I would also supply all the money for materials and labor. My "partner" would have all the work done. I  would be the money guy and he is the work guy. When we sell the house I get all my money invested back (Purchase price, labor, materials and closing cost) then we split the profit 50:50. Is this the standard? Is it a good deal for me??

thanks Mike