Structuring a Partnership for a flip deal

[Grace P.]

My husband and I own a few rentals mutually in both our own names (not in an LLC). We did one flip before. For that deal we started an LLC and filed as an S-Corp. 50/50 split for cost and return of profit. Our CPA at the times was not very helpful and we got all of our advice from reading blogs and articles from BP. We are now going to partner with another couple and not sure if we should do another LLC and file S-Corp or if there is an easier (least expensive/tax advantageous) way to structure this deal. This would also be 50/50 split of financial investment work and profit. We are looking for a CPA that specializes in Real Estate but haven't been able to connect with one yet. I know structuring questions are all over BP but I'm hoping for some quick solid advice as we currently have an offer out on a property. Thanks for your advice and guidance.