process of forming a partnerhsip

[Josh Raikin]

I'm looking to forming a partnership with a friend (or two). I've read through a few BP blog posts on it and have a few questions I'm still unsure about. If anyone could help (or provide additional resources/ videos) I'd really appreciate it! Disclaimer, this would be for my first investment property and I'm new to RE. 

1. What is the actual process when forming a partnership and acquiring an investment property through a conventional mortgage? (For this one, I'm going to guess and hopefully someone can correct me: Form an LLC together--> Go to conventional mortgage lender as an LLC --> get preapproved for a loan --> make an offer on a property --> (ideally) offer accepted --> (with an s corp) we are taxed on our income-- did I miss anything? anything I should know about each of those steps? Can one person in the partnership (instead) give all the money needed for the down payment directly to one person to carry the mortgage?

2. How important is getting paid, professional advice/guidance on this first investment/ as a first investment as a partnership?

3. I read that it's best to form a partnership by representing myself via an LLC rather than as an individual-- anyone have thoughts or experience on this?

4. Is S-Corp the best way to structure a partnership? What are the tax advantages of it?