Advice Help for my first flip!!!

[Paul Fagot]

Hello BP community! I've been doing a lot of research and reading about fix n flipping and I've made connections with one of the main flippers in my area and he's a pretty cool and smart guy and has shown me a lot of things so far about what it's all about. I'm wanting to see if he would be willing to teach me everything with flipping a house. I have a good friend who would invest in me and provide me the money to fix n flip my first house (it'd cover purchase and repairs) pretty much what ever as long as he gets his money back plus what ever he wants to make (still have to find out how much he'd want) I just want to learn as much as I can and do everything by the books but my question is.. What different ways or the best ways should I go about this? I was thinking about going 50/50 on a deal. My part being, would be finding a deal at wholesale price, providing half the funds and being there every day till the project is complete by managing everything and making sure everything's going as planned. (since he has to be at his other projects as well). Open to any advice! Would like to get a lot of feedback on this for my first flip! :)