Could you provide more details? I think you're right to question the arrangement but you're releasing details to the forum in increments and that makes it kind of hard for anybody to give you accurate advice. Not asking for names, addresses, etc. but what your buddy's reasoning is for not taking big bucks would be important. Is it just you that can't take big bucks or is he forgoing that also? Is anybody else involved in this hunting/business arrangement? What other "rules" are being placed on you? Are they in place for your buddy and anybody else hunting the property? Stuff like that.