Partnerships: Operating agreements

[RJ Nickson]

A friend and I are embarking on a 16 unit building and splitting the financial burden, which is the easy part to divide up. However, we aim to do more deals in the future and want to develop a good operating agreement/delegation of duties. In addition, I am also considering death or disability insurance established for our business.

Please offer any good suggestions on terms and/or experiences I can glean from.

Thank you in advance for your help!