Newbie and I have a proposal for a local investor. Am I crazy?

[Kent Nielson]

Here goes. And sorry for not being involved in the forums thus far. I've listened to a lot of the podcasts and they always talk about the new people that join and don't add value but just ask stupid questions and ask for mentors lol. It's a tough spot to be in, I'm getting there :)  

Here is my daydream and I wonder if It's crazy.  As an investor,  would you purchase a vacant lot, and provide material to build a new house on the property. As a partner I would provide the labor to build the house. (As in I would do most of the work myself with no payment) After the home is done I would cash out refi and pay you back plus your fees. If I wasn't able to qualify we would sell the home and each take our predetermined cut of profits. So I guess it comes down to this. Does providing free labor to build a house add enough value to make it worth the risk to an investor? Especially joining a newbie? That ends my question. But if anybody is curious what I had in mind here are some rough numbers of what I am proposing. 

lot size - 4,100 sq ft.

cost of lot and hook to city power, sewer, etc - 85k

size of home - 800 sq ft

cost of material to build 45k

comps sell for 200 - 250k

rents for about 1,500

Cheers