Landowner / financer partner with builder

[Jay M.]

Hello All, I searched the forum and didn't see anything that exactly matches my question.

I am an architectural designer and before that I was construction super.  I recently built a spec home (design / build) and it worked out really well. My experience is therefore 38+ years in construction with 24 of them primarily design.

I have been approached by a subdivision landowner about building homes in his upscale development.  He would supply the lot and financing while I would build it for a discounted rate.  To subsidize this he would sell me a lot(s) so I could build my own spec home (financed by me) to make up for some of the "discount" I would charge to GC his projects.

My question is this......  What would be a fair split?  50/50 after the lot is paid for (at market rate)?  If this is the arrangement it would be a discount over what a typical builder would charge as a GC. 

Thank you!