Contract help - buying fourplex with partner

[Kelly Stevens]

I own a handful of properties that I manage and have been a landlord/investor for 20 years on a very small scale. 

I have identified a fourplex and have a partner to buy it with me but the devil is in the details. We both have 50% of the down payment.  I will be the property manager.    I have a few questions.

1 - When making the offer do I list both of our names or do I set up an LLC and make the offer with the LLC.

2 - If I set up an LLC how does the LLC borrow money.

3 - How do most people work out the deal with partner possibilities:  50/50 ownership, 40/60 ownership since I'm managing and doing the work, etc.

4 - Is there a set contract floating around out there?  

5 - Do you put proceeds into an account up to a certain amount for upkeep and then split the income - monthly, quarterly, yearly?

6 - Any other tips that I haven't considered yet are appreciated; or links to previous forums or webinars or  books.