First wholesale deal with a partner, what do I do??

[Michael Del-Mundo]

Hey BP fam,

I'm looking to do my first wholesale deal. My friend who is a realtor and wholesaler was helping me get started by cold calling leads for him. He provided me a list and I got a lead interested in selling his home. The seller needs to find a new home before selling so my friend wants to represent the seller as the agent and I would be the wholesaler. We both agreed to split the wholesale fee 50/50. Any advice how to properly structure this deal? I want this to be as seamless as possible for the seller and for my friend. 

1. Use a JV agreement?

2. Should I tie up the property under his LLC, or my name? (I don't have an LLC, yet)

3. Since he is the agent can he not be involved in the wholesale deal?

any additional advice would be greatly appreciated! 

Thanks BP fam!