Partnering with contractor advice

[Kari D.]

Looking for advice on how to put together a deal with a flip partnering with a contractor friend:

I have a friend who is a contractor who has already done one flip himself and is now currently doing a live in flip. I was curious of what situation I could offer him to work as partners on a deal. He has the contractors license, workers and time to accomplish the flip. My husband does have construction experience, but is lacking the appropriate amount of time to put in to get the job done in a timely manor. We do however have a conservative $150k equity in our primary residence as well as access to other forms of credit to get the job done if needed. What would be a fair scenario to present to our friend that would benefit both of us? I am unsure currently of our friends financial situation as far as him putting any money into the deal himself.

Thanks for listening!