Advice on Mentorship Offer from local investor

[Michael Olson]

At a local REIC a local investor made the following offer:

The investor has an extensive and well financed targeted marketing campaign (+15K per month). For a substantial upfront fee (well, substantial to me) the investor will provide you with 100+ leads per month and personally coach you on how to follow up on those leads (what to say, how to say it, etc.). The first three deals you close you keep 100% of the profit. After that it's a 50/50 split for as long as the partnership is mutually agreeable. 

My research shows that the investor has a good reputation in the local community. Given the length of time he's been operating in the local area and his positive reputation I'm prone to believe the numbers he's giving in his pitch. I'm just wondering if anybody has seen this type of offer before and what their thoughts are on it.