Coinvesting and contracts

[Michael Delgado]

Hi all,

I had a few questions and thought maybe someone can guide me. Me and three of my buddies have decided that we will be buying as a team a house for student housing.  This is all our first house.  So, we are all new to this.  We will each be 25% partners.  We have all agreed to equally share the downpayment.  Here are a few questions I have.

1.  Any websites that have sample co-investing contract templates?

2. Should we form an LLC?

3. Is it ok if only one person holds the mortgage?

4. Should we each create our own company as well (for tax purposes and possible business credit)?

Our plan is to keep buying student houses as time goes on if all works out.  We have also agreed that if someone wants to go out and do their own investing on another project down the road they can without the other parties.

Thank you all so much for any guidance that you may have,

Mike