Legal Question - 3 way partnership terms

[Robert Cabral]

Hey Bigger Pockets Team,

I am going into a partnership with 2 other colleagues and buying a property. We are creating an LLC, and for now the mortgage will have to be under only 1 of the partners, because he is the only one that can qualify for 10% down. We are thinking about certain terms of the agreement, division of labour, out clauses etc. There are likely some things we're not considering. Has anyone been in a similar partnership? and would you have a blueprint of different terms that need to be considered? I know the obvious answer is "get a lawyer", and we will, but I was hoping to do a bit of research beforehand.

Thanks in advance!

Rob