Advice on partnership for rental deal

[Steven Weaver]

Hello BPers! I've been a long time reader of the forums, and am finally nearing in on my first deal (hopefully), and was looking to get some advice on a few lingering questions. 

I'm looking at a property to split with a partner and had some creative ideas around financing that I wanted to make sure would be feasible before I get to ahead of myself. My partner would be putting the capital in for the 20% down payment, however the mortgage will likely have to be solely in my name (without going into too much detail- while he has good income, he's self-employed, and is co-signed on a mountain of debt in student loans so is considered a sub-par borrower, while I'm on the other end of the spectrum). So my questions are as follows- Does anyone have any experience structuring a deal like this and what was your experience? Can we have both of our names on the deed if I am the only one on the mortgage? Should we look into having an LLP for tax and liability purposes? And any other advice is greatly appreciated.

I do plan on seeking the tax advice of a professional, but wanted to have some idea before doing so. Also may be worth nothing that my prospective partner is a family member that I 100% trust won't screw me, but we will be putting an agreement in writing to avoid any conflicts down the road.