How can I protect myself in a partnership deal?

[Chris Reyes]

I am asking if anyone could shed light on how they have structured their partnerships to ensure both parties will be protected after a deal has been made and implemented.

I have found a great partner that has a lot more insight about the local markets in my state and has offered to partner up with me on investing on deals together. 

We both plan on putting cash on the deal but he has the higher stakes. In my part of the deal, I will also search and find the deals to invest in as part of our agreement.

We have planned to do an LLC, but I was wondering if there was anything else I should do beyond that? If it's a contract, how have you/would you construct the contract?

Any and all feedback would be much appreciated!