Entity question from a different angle

[Walt Payne]

Slightly different set of questions about entities. We are looking at forming a three person partnership to do buy and holds mostly needing rehabs. We have agreed on an equitable split of the workload. But I will provide most of the money. I am thinking that a second entity that finances the deals as loans/mortgages might work to both protect my interests and act as an additional layer of asset protection. Does this make sense, or is there a better way? How do we equitably deal with the risk of one of the other partners using their credit to get a bank financed mortgage?