Multi Unit - Finance if Partnering and Legal Structure

[Brian Leon]

Hello to all those multi-family pro's. Quick question for all of you and this question will also apply to any SFR's. For those of you who have partnered up with an investor whether it be 50/50 or whatever structure you agreed on BUT the property is still financed and was not an outright cash purchase I have the following questions:

1. How did you structure a deal with a bank for 50/50 loan (e.g., 20% down and each give 10%)? Did the banks give any issues under this structure? 

2. How is the legal structure set up for the property? Is it under both investor names? Reason I ask is typically you can't get LLC treatment if a property is financed. Usually LLC's are if you buy outright or have a well established LLC that has proof of earnings.

I Appreciate the feedback!