General questions on starting a business for investing

[Charles Kappe]

I just had a few questions, I have a lender, an agent and a few mentors that I've been talking to about getting into real estate investing. I have a private money lender that is willing to present me with the capital to start out with my first property. I am working with an agent who is looking to partner up with me in the near future to put my background of construction and connections as well as his for the finding deals, buying and selling the properties together. I was wondering when I have a private money lender that doesn't want to be involved in the daily grind of flipping the home, and is willing to give me full delegated power over the transactions. How should I go about receiving the money for the buying and repair of the property, would I put him on the deed as well to cover him in his investment, could I put the deed in my name fully and receive the money from him at closing of my first deal to pay for the home and receive money for the repairs later on. Would I need to start an LLC if I plan to start with one home and build a portfolio of properties. Does anyone have experience with private money lenders and could share their experience of their first deal of a single family home, multifamily for flip or rental. Thanks in advance!