I think in context (friend said there won't be full time job, but there may be some drudgework) the 'what you might be able to offer me' is 'what kind/how much work you have available', not 'what terms can you offer me'.
Sure, that could be what he meant. However, I still think that asking for example "May I know what is available?" sounds much better than "what you have to offer me"
