Getting started, to partner or not.

[Ed Park]

Apologies for the newbie question as I know there are lot of posts regarding partnerships. I searched through a lot of them and pieced a lot of info together but just needed extra clarification and hope someone could help out.

Often in the webinars, etc. Brandon will say if you don't have the funding, find someone who does and go in on the deal with them. Other times, I hear some folks who have several properties that were acquired on their own say "on this deal i partnered with someone" and it makes it sound as if it's something easy where you just jump in and out of. But the more reading I do on it, the more incredibly complicated it seems it is.

Let's say a friend from CA wants to join in on a purchase in GA with me but I live in NY.
He fronts the down payment. I pull the loan, do the work and we split 50/50 with anything that happens with the property. I understand that it isn't as simple as that, as there are laws,tax implications, and potential partnership disputes around RE investments. 

So we would discuss the risks (including, what happens if we die, divorce, disagree, etc.), business strategy, etc. and  have a legally binding agreement. 

However, does that mean I need to form a legal entity like a LLC to do this deal with him? and does it get even more complicated because he's from CA, I'm from NY and we're operating in GA? If that's the case then, between setting up all of that structure, legal fees, and any other misc. costs, the purchase of the property would have to be a solid deal and cash flow would have to be great to make up for all of those added expenses. Otherwise, it would not be worth it? and I understanding that right?

and if that's the case then, hypothetically, If in the future I do 10 deals in 10 different states with a different partner in each property, does that mean I have to create 10 different legal entities to operate with them?