The simplest thing to do (if you want to go the equity route instead of debt) will be to set up an LLC (partnership), with a basic company agreement.

I understand then I will have to apply through the IRS for a EIN and then file the partnership with a 1065 come tax time.

Does anyone have a good templet of a Partnership Agreement Contract.

@Zk LaniAdding your wife as a member of the LLC may require the filing of a partnership return. something to consider.

How can a newbie like myself with limited savings or time to actively be involved bring something to the table where partnership is concerned?

Set up a local community housing development organization in partnership with an existing organization to get started. 

I won't describe here all of the things things he saw on the tape but it did involve drug use and people relieving themselves in the stair wells, as well as a romantic relationship with an employee and tenant.I will try to summarize the positive experiences of my months as a leasing agent.I did learn a lot about property management software,entering payments on time, and keeping up moral in the community by hosting monthly parties.

If you don't have one, or both, then that is a prerequisite to even THINKING about a partnership.

Establish good partnerships in US.

We are planning on entering a partnership with someone we know and have a couple of questions regarding how best to construct a partnership.