Advice needed on potential PML

[Joe Schaak]

Hoping to get some feedback about a potential lending opportunity:

$130k used as downpayment and rehab funds

4pts and 15% interest only for 8 months

2nd lien position with signed personal guarantee

30% of profit on sale of the property - roughly $30k

The rehabber has done 20+ projects and has a good reputation. He's a good guy and I believe in his ability. That said, you never know what can happen. 

Thoughts?