Structuring Your First Partnership?

[Alexander Burkard]

Hello BP!

My brother and I have decided to form a partnership to jumpstart our Real Estate Careers. And we are well on our way of having a solid foundation. 

We've discussed goals, processes, consequences, and strategies to get where we want to be.

But, something did come up that I didn't' have the answer for, so I'll drop them below. Any help would be greatly appreciated. 

• Him and I intend on purchasing properties in our name, and eventually transfer to an LLC. Is that a good approach, and/or legal?
• What are some things you wish someone told YOU, before you got into a partnership?
• If my brother and I purchase a property in our names, how can I include my wife on the deal if something were to happen to me? 
• What are your deals based on with a partnership? For example, every deal is 50/50, or it varies on the amount of work/effort put in from each person? 

Appreciate any advice or criticism! Thanks for taking the time to read. 

-Alex B.