Take over Fix and Flip project

[Becky Lang]

Hi everyone,

Has anyone ever taken over someone else's fix and flip project? For example this particular renovator has too many projects going.. the financing is in place with hard money lender and all I supposedly have to do is manage the project to completion,  make the payments and share 15%  of profit ( no work has been done yet on th house, comes with city approved renovation plans and use of his contractors if I so choose) . The numbers for the deal look great. ( I am a realtor who sells specifically in this area of my hometown so I am very familiar with days on market,  sales price for comparable properties etc) 

In a deal structured like this is there anything yall could think of to be mindful of ? 

Thank you!