KFG:
Go for it....however think about three things...first go to Maurice's website to see what it took for him to start his breeding business this past year....great pics of his farm from vacant field to 15 ponds with cover...
http://www.koi-uk.co.uk/index.htm
2. and Most important.... Let's say you do this on a hand shake, all your koi are on the property, you've invested your funds... And God forbid, Ronnie gets into an accident and croaks...Where does this leave you, does he have creditors with liens on the property, what about heirs? Are you going to self insure each other?
Sounds like you need a good business lawyer....One of my best friends and I wanted to start a business together, we went to a lawyer, you'd be amazed at the pitfalls we could have run into had one of us become incapacitated or died...We decided to remain friends and not business partners....
3. Think about what B.Scott said re: culling...do you realize that most son's of Japanese breeders apprentice to other breeders even though they grew up in the business from birth?
Nothing wrong with going forth with this venture, just make sure you have all the bases covered and try to look at the situation with your emotions parked at the curb...
Been there, did it! Aloha! Mike