how much company set up (www,graphic design) before first deal?

[Daniel Pitcher]

I've just finished my pre-massive action education phase and am now meeting as many like minded people in the business as i can.  I have secured  capital to do my first deal from a former rehabber who now runs a custom home company.  He has agreed to help me along in my first deal throughout the process and at the closing and to provide the necessary contacts for contractors and help pulling permits and such.  He wants a 60/40 revenue split once he approves of the deal which is fine by me.

Question is, how much work do I do setting up a 'company' to make myself look legitimate when i'm knocking on doors and making phone calls etc.  He advised me to spend as little time and money on website and graphic design as i can but i informed him i have a sister who is a graphic designer with a background in commercial real estate marketing and a best friend who is a web design genius type.  I could get this done for little to no money and little of my time.

So should i form an LLC, have a website, phone number, and business cards starting out or is this a waste of resources and i should spend that time searching for deals?