Partnering for flips?

[Grace R.]

Hi BP'ers, I'm hoping you can weigh in on my dilemma. I'm pro-buy and hold for cash flow (we currently hold one rental property that's generated monthly cash flow for us) and my husband, while also understanding the value of this approach, wants to move into flips. He also wants to pool together capital with another partner or two to buy what would be all of our first flip house. While I understand the benefits of partnering to bring together working capital faster, I have concerns/questions about: 1) how to choose and evaluate a partner (the potential partners are new to flipping too. I know what my husband and I bring to the table, but I'm less certain of what they can bring, besides capital - and I'm skeptical that capital alone is enough). 2) how to structure the partnership deal. I've read a bit on here about joint venture docs but any additional light/experience that can be shed on this would be greatly appreciated. Thanks!