Investor and Contractor - 50/50 Split?

[Tomiko Graves]

Hi all!  I am interested in partnering with a contractor but not sure exactly what makes sense.  Here's the scenario:

My agent (or the contractor) finds the deals.  I fund the purchase price of the home and the contractor covers all the rehab costs, including materials.

Is that a fair deal...and given this scenario, is a 50/50 split fair?