Below are some important things for you to be mindful when you have to file a partnership tax return1) A partnership return generates a form K-1 that each investor will need to complete his / her tax return.Will the accountant be able to complete the tax return by April 5th to give the investor/partner enough time to file his individual return?

These are called Partner Contributions and Partner Distributions.

How do I find good LPs for my deals?

I've been doing Private Money Lending/Partnering since 2021 which is very passive for example.

My wife and I are working with a friend as a partner.

if your doing a senior project I would suspect your best and most cost effective landing solution is going to be a local community bank that loves real estate.. in my experience most will want 50% down on the dirt and a ton of experience and a really strong balance sheet.Myself I always pay cash for the dirt this makes finding a lending partner much easier.

The challenge is convincing one's partner to move into it :)

Agents are in the market, they are looking for the same GC's and vendor partners you are. 

You may be able to "buy in" as a partner on certain properties, then buy him out entirely down the road.

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.