Expense in one company almost demands income in another. If your first company loaned the equipment with no money exchanged how can company 2 claim an expense? Meanwhile company 1 takes depreciation expense regardless of where equipment is or by whom it is used.

In company 2 the expense has to be offset by credit of a liability or reduction of equity.

In company 1 the lease income would be offset by increased equity, not decreased which is what the owner draw represents.

If all went as probably planned, income in company 1 would match depreciation taken dollar for dollar and that is how one would come up with an appropriate lease payment.  The providing of equipment on loan to new company should be increasing your husband's equity in company 2

I am getting lost, myself and need to give this some more thought. You might have to consider barter rules when no money exchanges hands