How to setup a partnership if one is not on title

[Charlie Greenwood]

This is my first question on the forum so I hope I'm adding it to the right category…

I am partnering with my brother in law in purchasing and building a vacation rental house. This is in a specific development zoned for vacation rentals and will be completed soon.

My question, due to limited cash we are only able to put 10% down on this property to close. The lender is financing this as a "second home". We cannot put an LLC or both of us on title and wanted to know some ideas on how to structure the partnership effectively. My brother in law will be on the mortgage and only person on title.

In the future I'd like to look at a quit claim deed to an LLC. Can we setup the LLC now if it isn't on title and have everything flow through the LLC?

Any thoughts would be appreciated.

Thanks!

Charlie