All of this stuff is OK until something goes wrong.
In aviation, there are a million things out to get you and the regs were made to protect all parties the best they can (which is still not very good) when it happens.
When the regs have been bent, and it goes wrong and someone gets hurt, then your troubles will stay with you for a LONG LONG time.
Lawyers will literally dance on your fiscal grave. I've had dealings with events that occured in the early 80's which are still in litigation and several careers (not to mention lives) have been wrecked.
In the end it's simply not worth it. You can cost share with family members but after that you're dealing with unknowns.
Are you prepared to risk paying lawyers for the rest of your life ?