Is this deal fair? (Flip)

[Michael Leow]

Hey guys,

I'm new to bigger pockets and wanted to know your thoughts on a deal:

I am an investor and my partner is setting up a deal to flip a house. He proposes that he puts down 10% of the money (I supply the other 90%) but that we split the profits at closing 50/50. Is this fair?

To clarify: he is doing 100% of the work. Everything from finding the deal, listing it on the MLS, etc. What is the industry standard in this situation? If it varies from situation to situation, I would also appreciate any similar past deals you have been involved in.

Thanks!