Looking to see if anyone has a basic template of an operating agreement for a business partnership of two parties involved in the fix and flipping business?

There is more paperwork involved with that option.

In this era of increased rates, obtaining properties that will produce a good return are harder to find and often involve quite a bit of work.  

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal level Learn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are needed Know everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

Add in community involvement any way you can.

This site makes me believe that we should use a 1065 however since I am involved in the partnership.  

This is a bit more involved, but as you scale, it is something you should consider.In response to your second question, I would say "yes" to allowing pets.

Creative financing doesn't involve the bank, the appraiser, the inspector or concessions generally speaking.

At minimum, I am looking for the name of the deceased, a name of the personal rep/heir, and a name/contact for the attorney involved.