i have a partnership similar to that one.. the way we do it is

House-
the guy pays for his house and his pge..
we split all the materials and the chemicals..

payment-
after harvest we take all the product and move it all together neither of us take any until product is sold. we then figure out the costs of everything.. clones,nuts,pge,rent,trimmers.. and misc... we then take that amount right off the top so everything is paid for throughout the crop.. we pull aside enough to cover the nuts and clones and materials in next crop off too and then split 50/50... he pretty much gets free house payments, and i got free place to grow. works out good for us.