How to structure partnership / use partner funds for downpayment
I'll try to keep this as concise as possible. I have a silent investor who is willing to partner with me in the amount of 50-100k. It's an incredible opportunity for me because this person is very open and flexible to how the deal is structured and is interested in a long-term partnership.
My main questions are:
1. How would I be able to access these funds for a downpayment?
2. Would I be best served to create an LLC, put both of our names on it, and have my partner transfer funds into the LLC?
3. How can I best setup a long-term partnership for my partner's taxes?
I've tried to search for this information, but almost everything I see has more to do with finding the right partner and structuring the deal with them, not actually using the funds or how to use the funds if they just want to be a silent investor.
Thanks!