Forming a partnership?

[D'Antoine Hills]

What are some key things to know about forming a partnership with someone on a fix and flip deal? As far as hard money loans, contracts, and exit strategies? I am new to real estate investing looking to do my first deal. I recently met up with another real estate investor who is currently doing his 4th flip. He's offered me the chance to partner with him but i have no experience on how to go about doing so. We talked about starting a LLC to work under. I just dont want to get caught up in any scams. Any suggestions are accepted!