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Without considering anything else, this alone should tell you to walk.
You guys are sharing expenses, but he is keeping all the profits? I wouldnt waste another second.
after I built facebook and myspace band pages and populated them with several hundred "fans", he deleted them shortly thereafter because he didn't feel they were necessary) and insists that the music alone will bring the people to us.
We're expected to share in the costs (rehearsal, gear rental, travel expenses, etc.) yet if we do get paid for a show, he keeps that money. It's been made clear that I'm replaceable and he has used subs in the past when I've been unavailable for a gig (we gig an average of once a month).
This is not your band. You are a hired gun who doesn't or won't get paid!
Sorry, I woulda been gone a long time ago! For the record, if it was me, I probably woulda kicked his @$$!