Hey Ice cube
First thing is the post you made should have been posted in the JV section of BHW
Here is the link for the same
http://www.blackhatworld.com/blackhat-seo/f65-joint-ventures/
Second thing, when you are already going to take care of teh finance part then why are you thinking of sharing your revenue or profit (i small rotten apple here - pls xplain)
Third thing I would suggest you to hire a good coder and then pay him wither monthly or pay him after the work is done and pay via PP only
In this way you are also safe and so is the coder
What the coder dose is he gets the thing ready shows you the running state of the code in a page format and ten once you pay via PP he transfers the work in ur domain
What you do is pay the coder via PayPal and if the work is not satisfactory or re-work is not done after taking payments then you can click on dispute over pp to get your money back within 60 days from the time you have paid the money
Thanks
Joy
Skype: jamesmgr