Joint Venture for a new guy and established LLC

[Brent Bechtel]

I am looking into a joint venture with my friend who has been doing flips. He is looking to get some passive income from buy and hold properties and I would like to join him. When we find the right house to buy will we have a joint LLC? I understand it's better to have that one house under its own LLC for legal reasons. From the research I have done I've seen that most banks will not lend to a new LLC, for that reason I would be purchasing the home under my name with my credit and money. Then we would transfer the title to the LLC? What comes with transferring the title to an LLC?