Good evening,

My friend and I are considering partnering up on building a portfolio. I am good with bookkeeping and we both want to reach financial freedom, so we figure why not work together. We are stumped as to the legal hurdles though, could someone help point us in the right direction with some of the below questions! 

1. What do I have to do to collect rents and pay for maintenance for properties he owns? (i.e. what paperwork is required for me to be the property manager for properties he owns? Can we just have a joint bank account for that?)
2. Does each property need it's own bank account or can we have 1 JOINT checking account for all deposits from all properties to go in to or does each property need it's own account (which seems ridiculous)?
3. At what point do we need an LLC? At what point would it be WISE to pursue an LLC? How should we consider setting this up as partners while owning properties independently?

Thank you!