What do I need to do now? - Partners, down payment, and house lined up.

[Billy W.]

Hey Everyone,

I am partnering up with 2 other people to flip SFH.

There are three of us and we have agreed to a 50/25/25 split with the 50% guy putting the down the down payment.

To set this up legally, how do we need to do this? Will this require a lawyer or a template? When we go to our bank for a loan should we apply as an LLC or individually? Finally, since we plan to fix the house up, we will need capital to purchase the home + construction costs. What kind of loan(s) should we ask our banker for?