Partnering with a builder

[Vanessa Peters]

What's a good deal when partnering with a builder. I have just done my first reno where I had a middleman help manage the project since it was my first flip, a complete renovation (really too big for my first project). I wasn't comfortable doing it alone. Now that I am finished with that one , the builder has asked if I would like to partner. What they mean is I pay the bills, they build at their cost and we split the profit. Why does that sound fishy to me? How do I know their costs? I guess this too is just a numbers deal and if the project is worth it to split a profit, eh?