From my understanding talking with a DE you can log PIC only for the amount of time that the other pilot is "under the hood". Once hood is off your time stops. Remember you are usually on a VFR flight so someone has to be able to look outside for traffic
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Once you have tasted flight, you will forever walk the earth with your eyes turn skyward, for there you have been, and there you will always long to return.----- Leonardo Da Vinci
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