How to partner correctly

[Candice P Novak]

I have a question about partnerships. I am ready to go into a partnership for my second investment property (first was on my own) and am writing up a proposal. This will be a multi-unit rental investment deal.

I'd like to do a 50/50 split of earnings, but am not sure who should be the mortgage holder and 'owner'/deed holder of the property. Should we both be listed on both? Or is there any reason/benefit for only one person to be listed on both or either?

Any advice would be greatly appreciated.