What's a fair split on a rehab flip?

[Patrick Donley]

Hi Everyone:

I'm partnering with a financial investor on a rehab that we will flip.  I have found the deal, will close on it and will do the entire project management on the house.  He wants me to have skin in the game, so I've agreed to invest 25% of both the purchase price and rehab costs. He, obviously, will kick in the remaining 75%.  

We will split any profit 50/50.  

He is suggesting after $20,000 on the rehab costs, that we then will split the rehab costs 50/50.  I feel like I'm being quite generous as it is bringing 25% to the table, bringing the deal, and managing the complete rehab with my team.  

DETAILS:  The purchase price is $13,000.  Estimated rehab costs are $25,000-$30000

ARV=$70,000-$75,000

This is the 1st rehab I've partnered on.  All the previous ones I've used 100% of my own funds as well as managed the rehab.  

Any thoughts on this would be much appreciated.  Thanks in advance, Patrick Donley