Creating a Partnership

[Geoff Cavender]

Hello, I am about to form an LLC with my friend who has his own contractors business, and I am a real estate agent. Our goal is to start flipping houses now build some cash and then buy and hold duplexs. I am looking for advice on forming this partnership, pros and cons, and then also he is wanting to go the route of taking a business loan out, and I have the ability to pull a HELOC loan for 20 to 30k. Any advice on how I should go about starting this partnership and maybe some advice on what kind of contracts we should have between each other when forming this.

Thank you,

Geoff Cavneder