Investing with a partner

[Chris Hansen]

Looking to purchase two single family properties with a partner. What is the best way to structure it? Was going to form an LLC with both of us 50/50, the LLC will hold both properties in its name. I understand then I will have to apply through the IRS for a EIN and then file the partnership with a 1065 come tax time. We will also draw up a partnership agreement and both sign, everything split 50/50 with a buyout/sale agreement. Anything I am missing as far as investing with a partnership?