rofl I've been to his house, know all the family, the parents place of business...
if he has let you know that much about him he is slipping.
you need to be more specific about the ratio of work/costs/etc.
basically me and my buddy split everything 50/50. all the equipment, rent, power, water, nutes, every single cost is split 50/50.
this simplifies it because come harvest, we split everything 50/50, theres no 60/40 bullshit or anything like that.
however we both have our own sets of clients so i dont need someone to hustle my harvest for me. If i had no clients at all i suppose i would take my harvest and sell it to him at a little below market value so he could make a little change off that too, but i wouldnt give it away for less than 200 a zip, your getting ripped off.