Factor for profit splits on a fix and flip deal

[Lamar Head]

Hey BP family, I have just recently upgraded to Pro and am kicking myself for all the great info I've been missing!!  I'm a newby investor with one rental out of state and I'm currently working on a flip deal with a family member out of state.  In searching for factors to consider when partnering, I did not find much out there (maybe my search was too specific). 

Any feedback on what the factors should be to determine profit splits would be great.  Here is an example of the deal I'm currently working on:

Who found the deal: My company

Private money loan: Only my company is on the loan

Down payment cost: My company and family member are splitting 50/50

renovation work: Family member is doing (he is in the state where property is located)

He is getting a contractor fee and we are splitting the profits 50/50.  

Is this a good setup or should my split be higher/lower?  There is a chance my company may have to provide down payment cost more like 60/40, if so should our split be higher?

Thanks!!