Contractor wants to Partner w/ us - Would you do this deal?

[Brian Dickerson]

Hey all,

We connected with a local property management company in the area we want to invest in and the contractor they use for all rehab/repairs.  The contractor knew of a guy who wants to sell his house (off market) that needs work.  

We were still doing our research the past couple days but the plan was to do a BRRRR deal on it and use the contractor to do the repairs. Well, the contractor took an interest in the house himself and did some haggling with the owner about the price.

The bottom line is: it's a good deal and now the contractor is asking if we want to partner with him somehow.

Purchase price will be around 39k and rehab needed is $15k including labor/materials.

Financially we don't need the partner, though it's out first deal in that area. How would you even structure a deal like that?  Would you do it? 

The only way I see it making sense to partner w/ him is if we got discounted labor rates or something, maybe free/discounted labor on repairs in future, but still not sure how exactly is a good structure.

Input appreciated!!