how do you setup a partnership or investor on specific deals?
I am trying to figure out the best way to set up a limited partnership. I have a family member that wants to invest with me in a few houses. He would be using money collected in a 1031 exchange. I want to know how is the best way to title the property? If both of us are not on the title I would guess one party would get the benefit from the purchase. Is it more trouble to have 2 parties on a property title or should i just buy the property myself and pay dividends to him as an financial investor?
I don't have a real estate license so if I'm to benefit from this, I have to be listed on the title as an owner.