Working with partners

[Charlie Massey]

I am about to do a deal with a partner for the first time. We are under contract on a house to renovate and rent. We are wanting to keep everything written down on what we did or how much we spent on different things. Does anyone have ideas or suggestions on how to keep track and also limit what each of us do? We are good friends so it's easy to communicate about everything, but we don't want to overspend during the rehab stage and we both have different ideas on what needs to be done.