possible deal overview, PLEASE HELP!! FIRST DEAL

[Cristhian Acosta]

heres the deal: im working with a wholesaler/ (licensed) realtor. i brought a property to him for a fsbo. the seller said he bought it 2 years ago for 160,000. says its in moving condition and needs liitle to no repairs so i figured at least 10,000 for repairs. my partner looked up the comps and says that the ARV IS 175,000, but we can only pay 80-90,000. do these numbers sound correct?. and he says that hes trying to gross 20,000 profit to split 50/50 between us. he says he can give me a jv juncture or non-compete, non disclosure agreement. either of those should protect me right? as far as protecting myself: how do i protect myself in this scenario?
and as far as numbers go: how do i figure out what my profit should be and can anyone give me a step by step on how i would break down all the calculations of this particular deal?

ARV is 175,000:

175,000 times .70 = 122,500
122,500- 10,000 for repairs =112,500.

112,500 - 20,000 for me and my partners fee. 50/50 = 92,500

shop to buyers for 90,000-92,500.

do these numbers sound correct? thanks in advance

p.s my first deal