If I understand correct his partner find a deal an managing reno. Khoan provides mortgage and half of reno money only. "let's say if someone is experienced with reno and flip finding a suitable deal". It seams for me his partner do most of the work. Should not him get more then 30% in this case?

Good for you. Here in GTA it's less then 10% , more like Thomas numbers. Is it a single family or duplex/triplex?

As real estate books recommend 10% gross yields, is it possible to get such numbers in Canada, especially nowadays?