Who should hold title and who has most liability.

[Brian Weldon]

I am purchasing a flip house, I have a friend investing the purchase money and some of the repair costs. I believe I (my LLC) should hold title and give him a promissory note and a deed of trust giving him the option to record it or not, If he records the deed, what kind of liability does the investor have (in California) as a lender. Should I give the deed under his LLC name to limit liability.

Brian