Should I use a local lender? Does having a partnership matter?

[Caleb Howard]

I have heard before that you should use a local lender, but I wasn't sure if it was because they could do better rates or that they are more willing to work with you.  

Here is my plan: I am looking to purchase a house to turn into a STR. I believe I have found a good deal with great cash flow potential. I am needing to bring on a partner to help with the down payment, renovations, and furnishings. When talking to a bank, what type of loan would they give on a partnership? How would that be structured? Any clue what rates would be now?

Any advice would be really appreciated! Thanks!