Is this a safe deal?

[Harry Williams]

I will be providing the cash for a builder and project manager in Atlanta, who has flipped over 500 homes in the area. We will be governed by a Development Agreement but generally, he will handle the project from start to finish and I will be hands off for the most part. Being that I will only supply the capital and not labor will allow me to dodge the additional Self-Employment tax. We split profits 50/50. Below are high-level numbers and info. I have altered the numbers to make the deal hypothetical, but percentages stand true. 

If I do not finance the deal with cash I have access to a 3.5% Portfolio Loan.