Partnerships with Rentals

[Tiffany S.]

Does anyone have any experience partnering/JV'ing on a buy/hold rental? How are things split up? Do both of you own the property?

I'm considering purchasing a property with a partner. Ideally everything will be 50/50 but I am not sure if their credit would be as favorable as mines. In that case i would suggest having the mortgage in my name and splitting all profits/cost 50/50. Has anyone done this before? Any advice is appreciated.

Also its my sister so I don't have to worry about her running off anywhere.