If it was me personally, I would not.

You can stack your personal 50%s up for separate ventures while still knocking out deals without your own capital2) Read Raising Private Capital by Matt Faircloth3) One LLC with the S Corp designation to pay yourself a reasonable salary from the flip profits.

I can also find out everything about this person's license in less than 10 minutes.

With respect to paying $44k off on your HELOC, I personally think that is totally fine and a great start. 

I personally invest in the North Dallas area (Prosper/Celina) where there is lots of growth in homes with nice lots.

Dumb Debt also means that the owner takes on recourse debt and personally guarantees it instead of non-recourse debt or other people’s debt (OPD) or cross collateralizes it with highly appreciated assets with low debt to value ratios.

I know i personally wont build anything with adjoining walls as the long term liability is to much risk for me.

There is a big difference in how those are handled  HAHA I just saw a post and commented where the person wanted to ask if they should overpay for a home because they can get is seller financing.

I know my personal tax accountant isn't knowledgeable enough for property investment write-offs.

And does the person doing the labor get paid or only the materials paid for by the partnership?