Flipping partnership

[Marie Shaug]

I am relatively new to flipping/wholesaling houses.  I am out of state a good part of the time and have a colleague I work with as "boots on the ground".  I do the research and find the properties (usually from tax sales). I often attend the auctions, although he has on occaision as well.  I do 100% of the financing.    

Once a property is acquired, he takes care of securing, cleaning & clearing out the property.  On several of these properties, we haven't done any rehab and wholesaled them as is.  What  is a reasonable % of profit in a case like this?  

If he is getting an agreed  % of the profit, should he also get paid for some of the work he does himself?  ( or would that be considered his sweat equity?)

Appreciate the input!  Thanks!