Let your friend pay for your type rating if he wants you to fly it...
Pure guess, but my guess is insurance won't even consider covering you until your at least 1000-1500hrs PIC and that is if he is willing to pay the high premiums you will cost him. More realistically, you could be looking at 2000+ hours.
I would take the dual received and then like I said, let him pay for the type. You can only log PIC if you are typed in it.