Partnership strategy to protect very conservative partner
I am partnering with a guy on some long term hold deals. I need a partner due to some credit issues and lack of capital. He is looking to partner for some cash flow with me as the management end of things. However, he is very concerned about possible lawsuits from rental property tenants or other issues. I was looking into a limited partnership entity, but wanted to see if you guys had any advice or had dealt with similar partners?