Many people say partnerships never work out.

For security monitoring, BP has a partnership with Simplisafe.

It becomes even more important when you are investing with a partner since it can impact both of your lives.When you create a LLC within a partnership it provides a few different benefits.

I am looking to partner with someone looking to pursue value-add multifamily opportunities in the multifamily market in Philadelphia.  Preferably someone with fundraising acumen and/or experience in multifamily acquis...

As far as structuring a partnership, there are all ranges of the spectrum. 

When I was 20 and had my first business, which was a partnership, we waited until April 14th to start our taxes - whoops.

A third option is a partnership.

So, yes, it could definitely work on paper and even in execution, but it would require quite a bit of setup as it's something that would definitely need to be scaled if one was going to conquer more than just their local market - and that requires lots of people & lots of money.Personally, I prefer the tried & true model of metal sheds on concrete slabs so folks can store their treasures and running all of that with zero to minimal employees - the simple approach.So I guess in summary, the romantic part of me wants to change the world, but the practical part of me just wants to change "my" world. 

Is a legal structure required and if so which is the best for this partnership?

Cash with quick close under both our names and then transfer after closing.Doing cash because it minimizes complexities with lending to a personal name, partnership, LLC, etc.