As an update to anyone curious, we all recently met as friends for a dinner. Then said he wanted to make a movie with my wife and her sister as the leads. They are both actresses. He told me this like it was nothing.
I did have a talk and say stop focusing on giving random girls feature roles (he had met a girl who had never acted and wants make her lead in his film) and remember we're working together.
Talk about red flags.
Better to learn this now before you spend a decent chunk of cash together.
If I were you, I'd stop wasting time with him and move on.