possible deal? advice on structuring it.

[Cesar Garcia]

I have been in this business almost 3 months now,and I think this is deal I've been working has a lot of potential,

The owner does not need to sell but he decided he wants to partner up to rehab the house, and I was going to wholesale it before but now  a RE investor/broker decided to fund the flip so I would like to know what you all think about this,you can it be legal structured. Thanks in advance. Here are the numbers.

 (Homeowner)-            will donate house to the project

ME-.                             will manage and provide GC, plans, permits,and overlook project.

INVESTOR PARTNER . will provide funding for rehab(repairs), market and sell property

costs of repairs 65k-85k

holding costs.( gas,insurance,taxes,electricity,water/sewer/trash)

                         apr -1,204.00

realtor fees 6%       -19,500.00

title-escrow fees     - 979.00

total Selling costs  - 21,683.00

Projected profit and split

projected sales price                           325,000.00

less costs to repair/hold/sell               21,683.00

total profit -                                         303,347.00

projected profit split

Homeowner                                     - 151,673.50

ME AND MY INVESTOR                . - 151,673.50

Split between MY INVESTOR AND I

INVESTOR - 75% = 113,755.00 + 19,500 (Realtor fee) = 133,255

(after rehab funding) 48,255.00 - 68,255.00 depending on rehab costs

ME - 25% = 37,918.00

can something like this be structured? what other options do I have? I have been  marketing to wholesale, but since the owner does not want or need to sell ( his house has been sitting for the past 5 years) should I go ahead and get this deal done if it can actually be done. thanks. im really new and would like an expert advice =)