How do you structure a deal with investors?

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Hi,

I've pooled together a few investors and want to do a flip or buy a rental using their investment. My question is, how do I structure the deal with them? Should I form an LLC with them as partners?

I know this is probably a question for an attorney and I do plan on consulting with one and getting everything nailed down before touching their money. But I wanted to get some feedback from the community first. Thanks