Structuring a Spec. Home Deal

[Thomas Landsberger]

All, I am new to the game, have one rental property thus far.  I am looking for some simple advice on structuring a quick spec. home build deal.  There are three parties, the GC, my partner and I.  My partner and I are fronting the cash to make the project happen.  Our GC (2 guy show), is doing some scope, framing, siding, help GC, etc. for cost in hopes of sharing in profit.  The GC needs a resume builder, and we plan to build more together if this goes well.  Thus looking for some thoughts on profit split of 33% each, or 25% each person?  How much weight should we put on being the two people bringing the down payment?  These type of questions...   Much appreciated!