Financing a property with two investors

[Bryan Anderson]

Hello,

A friend and I are looking to start real investing as a team. Currently, we both operate one rental property a piece. Our thinking is that by combining our financial resources that we would be better poised for REI than if we did it alone. We both want to focus on acquiring deals and the financing side (we both are full time military members) and outsourcing maintenance and property management. My question is what would be the best way for procuring financing for two people?

Also, would we be better off purchasing and fixing a property with hard cash than refinancing it to free up our equity?  

Any advice on partner investing would be great!