Do I need an attorney, LLC, JVA?

[Dustin Clark]

I have the potential to make an offer on a distressed fix and flip property in the next couple of weeks. I will have little to no money to put into the deal, but I have two friends with the cash capital who have agreed to fund the deal. 

I have heard that it is best to set up an LLC when working with multiple cash providers. Do the three of us need to consult a real estate attorney together to do this? Do we need to set up an LLC, or is a JVA appropriate? Is it safe to set up the LLC w/o consulting a real estate attorney? I'm stuck knowing what my next step is before I make the offer. Any guidance is greatly appreciated!!