Partners in wholesaling - what if you want to buy a property?

[Jason Turo]

A partner and I are evaluating how to handle purchasing a property that comes from our joint effort of marketing for wholesaling properties. Basically if we do not want to sell it, and either of us would like to keep it as a rental, how to handle fairly purchasing them (value and location will all be different), or have a joint LLC that equally owns all the properties we decide to keep?

How have you handled this?