Recommendations for partnership

[Jim Charles]

Hey all,
Looking for some advice on how to set up and structure a partnership for flipping and recommended stakes. The group would be another investor and myself. We're at least responsible for the deals and funding portion. In addition, we have a general contractor who preferred an equity stake in lieu of fees. The general consensus is we're going to need to set up an llc to get this going, but beyond that and detail wise, I'm looking for any help or guidance you can pass along. Initial investments will be flips, but the group is also interested in getting into rentals in the future.