Partner with contractor 50/50?

[Greg Maden]

I am in the beginning phases of putting my business plan together. My goal as far as an investor is to acquire a few houses both SF and or MF then start to get into buying and flipping houses. This is just a thought I had:

My question is, is it smart to have a contractor as my business partner and split profit 50/50? Or some other % we work out? Or should I deal with contractors on case by case basis and then pay them? I have a friend that I completely trust and would have no problem going into business with him. He is a contractor that does amazing work. I am not so good with that side of things but can help out here and there and am willing to learn to do more.  

So basically, if the contractor has skin in the game as far as the business goes will that be an advantage or disadvantage?