Partnership Options for two partners

[Ryan Sajdera]

Hey BP!

I have a partner that wants to invest in real estate with us. He is interested in being more of a silent partner in the sense that he wants us to work the fine details of the deal, set up the appointments, closing, etc. He will be investing from a distance. What types of partnership would you recommend we set up for this deal? Joint venture, Limited Partnership, etc? Can anyone give some feedback about what they've done as well as the drawbacks and benefits? Thanks!  

*As a side note, we have not partnered with anyone before, all of our deals were done on our own. Any input is appreciated!

Ryan