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From my experience, sharing stuff like that with friends is bad news. You might want to look into quarter share or fractional to start out and see how that goes. I worked on aircraft for 22 years and one thing I can tell you is how much the accounting departments bitched at the owners about how much money they cost to operate/maintain.
My advice would be to really take your time looking into the actual operating costs. You could lose your ass really quick on equipment like that.
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