Best way to set up a Partnership for investing

[Janetta C.]

Hey Guys! My cousin and I decided to partner up and invest together in the Richmond, Va area. We will do both the BRRR method as well as flip depending on the deal and how the numbers are.

Were planning to establish clearly defined roles/expectations and create terms of agreement. However the basic plan is to use my credit and her capital to acquire deals.

My question is how should we arrange our partnership? Should we each set up an LLC, do a multimember LLC, or perhaps form a Corporation? What would be the best way to legally arrange our partnership knowing the basic dynamics.

Any advice is appreciated!