How to structure a flip with a partner through an LLC

[Emil Degan]

Hello I'm sorry if this has been asked before but I haven't seen anything on my specific case.

Me and another GC friend of mine want to flip a house together. He already purchased the home a few months ago and the title is currently in his own name.

-He approached me to do the flip together and split profits 50/50

-We opened a LLC together 50/50 partners

What is the correct way for me to reimburse his down payment and transfer title to the LLC?

Do I write him a personal check for 50% of his down-payment, then he goes and transfers title to the LLC?

What is the correct way to do this with the best tax benefits?

Sorry if this seems obvious, I'm not a financial expert and just want to be sure we do this in the least confusing and most tax beneficial way.

Thank you for your help!