Family Partnership - deal structure & profit sharing options

[Zac C.]

Hi Folks,

Looking to pick up a fix and flip home with a family member and wondering the best way to structure an equal partnership from a legal standpoint - will be going in cash and would like to know the best option to purchase the property 50/50 within a shared entity.

Partner is currently drawing SS and limited w/ income restrictions until age 65 - looking for a plan that provides flexibility in profit sharing for both partners.

Thanks in advance for the insight!