Creating a real estate investing partnership

[Lisa Tuttle]

Hey everyone! I am a newbie to real estate investing. I just sold my house and was looking to buy my first deal. Originally I was going to house hack but my father in law was interested in partnering with us for his first deal. He does great on his W2 job but is looking for some better tax strategies. Does anyone have any advice for ideas on how to create a partnership? Preferably one where he can maximize depreciation?

I would also say he is very successful but doesn’t have a ton of real estate knowledge. I have been reading and listening to podcasts for a few years but haven’t actually invested yet.

Thank you!