Having a single DM is easier in many ways since plot arcs, NPCs, and other materials such as a cursed magic item may not be known to someone else and having it become known may alter the campaign. Since the idea of this campaign is to keep things very simple the cursed items would be the only likely to come up (and since the DM’s character won’t be present it wouldn’t matter if they had a cursed item.
The benefits are that everyone gets to act as a player part of the time and the DMs don’t have to have a scenario ready every session. Conflicts can arise over rules interpretations and treasure disbursement, but in the simplified campaign should be less of an issue especially if simple or pre-written adventures are used.
This system assumes the DM character went on an identical quest to the party with a similar party. The DM character gets 1 adventure of advancement, a share equal to one of the party members (in a party of 6 this is 1/6 of monetary treasure and 1 item per 6 the party receives).
Permanent/rechargeable items are figured separately from expendable items. So if the party found 12 items such as swords and wands the DM character would get 2 from the same list of items (DM character cannot get an item the party didn’t get even if it was available on the adventure). If the party also found 3 potions, a scroll, a set of arrows, and a set of crossbow bolts the DM character could get one of those as well (again from the same list; ammunition found together counts as 1 item as does a potion vial with more than 1 dose).
If the party finds more or less items than divides evenly the DM should round off but track if the character is ahead or behind the average in items.
In the first series there were 13 items for 6 characters (rounds to 2 each with 1 extra) in the next significant find there were 9 items for 5 characters (1 under the 2 items per character) together it evens out to 4 items. Banion will then have 2 items from the first group and 2 items from the second group (Elven Chainmail+1 and Longsword+1 from the first, Girdle of Stone Giant Strength and Shortsword+1 Luckblade from the second). In the first group there was a scroll and 5 potions so it’s even with six items (Banion will take the scroll of Stone to Flesh).
This doesn’t apply to artifacts since they are unique. I considered other options, but this seems fair to both DM and players while also keeping things simple as long as the party divides their loot at the end of the session.
If the party elects to take on Henchmen it can be assumed the DM character also has a Henchman, but they are responsible for equipping the henchman. If the DM has Multiple characters then the same one must be given the treasure and advancement (no splitting or redistribution) as the guidelines for Multiple Characters.
If during the course of a game the DM grants something to a specific party member, magical or monetary, that is not “loot” and the DM character isn’t entitled to share in the boon awarded to the character even if that character is the one the DM uses for a treasure share.