Fix and flip partnership structuring

[Robert Pole]

My contractor brought me a house off the market. We walked it. Can add a in-law suite for lots of value. We can buy the house for maybe 125k and he estimates 120k in renovations. He will do all the work. I will secure the loan for everything. What would a fair cut of the profits be? I’m thinks just pay him his regular price for the job and throw him 5-10% finders/gc fee instead of making a 70/30 split or something like that. This is my first fix and flip. And is also my first partnered investment property. I usually just do fox and rent for my own.