Partnerships- The good and the bad

[Rigo V.]

My friend and I are considering forming a partnership to begin buying MFH buy and hold.

He has the cash and I have the credit (He isn't bankable, he just finished grad school and is looking for a job. The cash is from an inheritance). Most likely the MFH would be under my name with a legal partnership agreement put in place stating that he is entitled to 50% of everything in the property including the debt.

Without this partnership I would have to wait at least another year or so to make a purchase. 

So my question is to all of those who have invested in RE with a partner, what is the good and the bad of a partnership? Anything I should consider?