Profit split question

[Theresa Allison]

My husband, who is a contractor, and I have been rehabbing and flipping homes for years. A neighbor has approached us and would like to partner with us to get his home sold. He wants us to do the rehab, all costs would be on US for said rehab, and then splitting profits at the end. I have never structured a deal this way before as we are normally buying outright. 

We will be doing all design, rehab, and marketing after the fact as the owner lives several hours away. Is there some kind of guideline for how much our split should be?

Thanks for any and all input.