I think it sounds like a really good way for someone to get into small holding. With regard to,profit split, initially much of the capital investment is coming from the owner, so initially it seems reasonable for them to take larger share. With time, there could be agreement to gradually change profit share, perhaps depending on input from incoming partner - new ideas, innovations, increased profits. Years of limited / low profits - these happen, due to weather, unexpected animal losses etc - again, profit share would need to be discussed between partners. It is an interesting proposition, allowing young people to get into small holding, whilst giving help to those feeling the toll of too many years hard work.