Best entity/contract for first-time investor partnership?

[Zach Martin]

Hey All!

Looking for some insight regarding the best way to approach a partnership. A friend and I would like to purchase a property together in order to ease into long-term real estate investing with less of a financial burden.

Neither of us have prior experience but know that a proper contract is essential to making sure all potential future discrepancies have a clear resolution-could anyone suggest a good resource or even template for this kind of situation?

From what I've read, it also seems that an LLC would make the most sense for buy-and-hold. We're planning on starting together but also owning our own properties in the future. Is there an entity that makes the most sense in this kind of scenario? Thank you so much in advance!