Whatever his proposal is - review it and counter it with AT LEAST a 10% uptick in the money. Maybe even lean into 20%. Maybe more. Don't be afraid to ask.

And he's an absolute joy to work for/with. He's trusting, super smart, accommodating and flexible.

That's awesome. I wouldn't walk away from that. liking the people you work with/for is worth A LOT in dollars.

Not to mention, he's also an interesting and hilarious guy.

So are you... so quit selling yourself short with this nonsense:

but I am without a college degree or relevant work experience. A raw bundle of potential, but not much more.

Focus on the bundle of potential. You've got a TON to offer him. He wouldn't bother thinking of your future with his outfit if he didn't want to keep you around. He likes you because you're thoughtful and a hard worker and interesting, and intelligent, and clean, and well spoken, and a problem solver and and and... I'd trade you RIGHT NOW for dozens of people at my company who have degrees and "experience".

Don't trade an old dream of living in Colorado for a great current situation. You can ALWAYS move to CO later... you probably can't go back and work for him later.