Either way, you'll need to have at least a joint venture agreement with a partner that you have a good relationship with.

It's actually the land of the "fee" :)  Jokes aside you can often get away with things like that even if they're not permitted provided you don't put noses out of joint (with neighbors/tenants etc).

You have made a great choice by jointing the Bigger Pockets community.

By the way, I don't know of any conventional lender that can close in 30 days today, even with the most cooperative seller.Did you use the standard CAR multi-res purchase offer and joint escrow instructions? 

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My thought process being, God forbid something happens to me they can avoid probate since were considered joint tenants.

Hello Everyone,I am about to enter a joint venture with a partner on a property.

If you have two signatories to the lease, they are jointly and severally responsible for the obligations of the lease.  

What we do is we always purchase with an LLC, and then sign a Joint Venture agreement under that LLC.

Doesn't your lease hold both parties responsible, jointly and severally?