SoCal Mobile Home Flip, should I take this deal?

[Laura L.]

So first off, let me tell everyone that I am brand new to investing, and am located in Southern California. I am trying to find out if this is a deal I should take. I went to a real estate investment meeting, and began networking, and met a gentleman who presented me an offer. He is a mobile home flipper, looking for a cash investor. His has found a mobile home for sale at $1,500 with estimated rehab approx $8,000. Rent for the park starts day one, at $440/month until sold, within 3 months is likely. Sale price is around $25- $30k. After I get back my $11-12k, I think a 50/50 split of the profit is fair, since I am taking all the risk as he has no money invested. He is the one who found the deal, will do all rehab, and will sell the property. He is thinking more of 70/30, his way 70. Does a 50/50 profit split sound legit?