Many deals will never work for hard money but you would be surprised.In the past when I funded deals with hard money (as the lender) I found it very funny that borrowers wanted to split the profit rather than pay hard money rates.

What is the reason behind the 90/10 cash split.

Another option is to split up into 2 furnaces and have the tenants be responsible for gas.

Most agents only working part-time dont end up making as much as they would think due to broker splits, team splits, taxes etc and the amount of effort to become good at the paperwork, negotiations and marketing for clients is more difficult than most people tend to think as well.

You'll do all the work, with his guidance and funding, split the profit.  

An advantage of this house that it has a large plot of land that could be split in two.

@Dan KelleyDan, go to MeetUp.com and search for real estate investing groups...there are plenty to search from with meetings in the morning, at lunch and in the evening, at locations all across town. 

These 2 apartments back in the past was stated as 1 house and in the mid of the house where the stairs appear to be today , it was the house's hall, as the years passed the old owners decided to break down the hall's wall and make it practical to be 2 split apartments but they didn't change the contracts to appear as it is now and also the architect didn't change the files of the house as well.

no meeting fee, but they encourage you to buy lunch.

Split it, buy value add, rent out for 1031 and keep repeating for decades.