How to structure a real estate partnership

[Brian Sellers]

Hello,

A business partner and I are looking to purchase a 4 unit multifamily building. We are curious regarding how to structure the partnership. My partner plans to live in the building and take care of it, taking out a mortgage loan to purchase the property. I will provide the downpayment. If this goes well we plan to buy other properties. Any extra cash flow would go to me until we have equal equity in the property. Would purchasing through an LLC be the best way to go? I already own a primary residence but he does not. Would any particular structure be beneficial for tax purposes?