How to Structure Partnership

[Jeff Nichols]

I'm purchasing a house to flip in Tennessee and I have a partner who will be funding the purchase of the property who lives in Florida. We've agreed that I will do the rehab and he the funding for a 50/50 split of the profit. Is there a way to structure the partnership that would put both of our names on deed without creating an LLC? Tennessee doesn't have personal income tax but if we create an LLC we would have to pay state income tax. I'm trying to keep from paying state income tax in the proceeds of the house.