Best way to start a partnership

[Alex Lindsay]

My partner and I have been doing the research and honing in on a market we like. We feel we're ready to take the next step and purchase our first rental property, but we're unsure of the best way to go about it. Does an LLC make sense? I understand the liability protection and tax benefit aspects of it, but it also seems like the best way to have something under one entity that we can both profit off of fairly. Are there other options any of you have tried that may work better?