Partnerships and LLCs! Do you start one??

[Cassidy Burns]

Hi BP,

I am purchasing my first property with a partner, well hopefully! Have to get the offer accepted first. BUT, my partner is bringing the money for the down payment and repair costs, I am bringing the sweat equity, we are splitting everything in the property 50/50. Should we start an LLC for protection and purchase the property under that LLC? Any suggestions are greatly appreciated.