Purchasing property with a friend - LLC?

[Sonny Sach]

Hello all,

I am interested in purchasing an investment property with a friend. I was initially thinking that we would create a LLC but it seems that it makes finding a lender more difficult. We would be looking to purchase a single family home so a 30 year fixed mortgage would be ideal. Has anyone done anything similar and could you share your experience? Is there another way like a joint venture document and then umbrella insurance? This would be my first investment property so any advice would be appreciated.

Thank you,
Sonny.