Basic partnership question

[Richard Ferrero]

For a little background on where I am in my REI career, I'm closing on house #2 in a week and will be turning house #1 into a rental soon thereafter. I plan to repeat that with #2.

As I look forward to building momentum, I am looking at partnerships for rentals. Once you find that partner and agree on a property, (basic question alert!) how do you proceed? Do you put both names on the mortgage? Should an LLC be formed and you work together under it?