How to split up profit on a partnered flip.

[Adam Craig]

I invest mostly in single family rental properties but I was approached by someone with experience flipping homes for the company he works for. This is someone I have worked with for quite some time and I trust his knowledge. He is going to manage the rehab because of his extensive construction background and I am going to be the money.

So if this potential deal is for a 100K house- I put my own 20K as a down payment and another 30K for the rehab while he manages the rehab. 

What would be a common slip for the potential profit?