Zion, IL deal. How should I approach this?

[Ken Jones]

Good Morning BP! I have an off market deal that has been presented to be by my GC who is finishing up a flip for me on the south side of Chicago. Its a single family home located in Zion, IL which is about 1.5-2 hrs away from where I live. It is his property and he is motivated to sell it. He is proposing one of the following: 

a.) asking $28K for the property purchase and he says it needs about $80K worth of work for a flip (which he'd like to do the work if I buy it).

b.) bring $12K to the deal, do a joint venture, he'll do the work, and we split the profit of the sale

I'm in the process of finishing my first flip and I've never been approached with such a scenario and I have no knowledge of the Zion market to know if this is a good deal. I'd like any feedback on the best course of action. In addition, I'd like to connect with any investors and/or agents in the Zion, IL area to get an idea of sales and price points in Zion. Any other suggestions would be appreciated.