Agreement to reno home for owner - then sell & split profits?

[Tori Anderson]

I have an idea about flipping a house that I've not heard of before.  Has anyone on BP had experience in making a binding agreement with a current owner to renovate their home, then sell it and split the profit with them?  (Shout out to @Aaron K. for letting me know it's possible!!)   I'd love to hear any experiences along these lines.  

[Jeannette C]

I've thought of this too, not deeply, but decided it's too risky to explore.  What if it doesn't sell in a year, then what?  What if the owner changes his/ her mind?  You'd have to be in a position to file a lien and wait for your investment back. Not my cup of tea.