It is wrong mentality to think about partnership.

If your house increase in value, are you prepared to share the profit?

If he does a crapy job, are you prepared to fire him?

Anyway, it is not a partnership, you are the boss, he is the employee. Period.

But if you can make it work, it is to your advantage. I just do not see how it will work.

What about if the carpet needs to be replaced? It is easily a $3,000 job, you think he will shoulder it? I can only see him quitting on you once there is a big item coming up.

One way I think will work is that for normal small maintenance it can be on a monthly basis, and if there is a big job, it will be treated separately.