Buying Properties with Partners

[Account Closed]

Hi BP community. Typically I buy/sell on my own, but there is this deal that I am considering partnering up with a colleague of mine. There is a Short Sale property that we are interested in purchasing but are unsure as to how to purchase it. What would you all recommend and how would we go about doing it? LLC, LLP, Conventional, etc. Here are a few of the numbers:

Purchase Price: $65, 000

ARV: $130,000

COR: $30,000

Quiet Cost: $14,500