Fund a fix and flip, keep as a BRRRR?

[Alan M.]

BRRRR seems like a great strategy for building wealth and accumulating real estate. I'm wondering if it can be done with a partner.

Hypothetical situation:

$75k property, purchased all cash for $60,000. Needs $80,000 worth of work to be flipped for about $210k. I'd just be the money on the deal...someone else found the property and will do the renovation.

Questions:

1. What's a reasonable split on the fix and flip if I'm supplying all the capital and he found the property and is doing the work? He says it'll take 2 months to do the rehab. 

2. In running the numbers, this seems like it would be a good BRRRR candidate. Purchase and rehab, say for $150k (if things com in over budget). Refinance out at $210k, so $157.5k mortgage. Payments including Insurance and Taxes would be $966. Rents in the area are $800-1100 (I realize this is too broad, need to get more exact). So basically no equity in the deal (infinite ROE!) and have someone else paying the mortgage the first few years, building to some cash flow in future years.