Partnership nuts and bolts

[Joel NA]

Does anyone have any advice on buying a house with a partner? We're best friends (I know and respect the whole thing about friends and businesses, but we've had those discussions) and we plan to form an LLC. We've run into a flip opportunity that needs to be jumped on fairly quickly, so we're looking for the best, cleanest way to buy this house together.

Our current idea is to simply have one guy buy it and write up a contract outlining the finances after the fact.

Thanks in advance.