If the partner will be receiving part of the profits, you could both be in the LLC or you could be Joint Venture partners which is simpler for both of you. 

@Diego A.If any investors are passive, you need to setup a syndication since it is a security.If all of the investors are active, you can setup a joint venture partnership. 

Now, we are eager to leverage our expertise for our own venture. 

We are cash and not debt heavy into this venture.  

WE are venturing in the Philippines with a view towards retirement - having properties that will pay for itself, a place to stay when we come to the US and buy & Hold for our future retirement or our kids in the future. 

But for what it's worth, industries whether small to large cap now will double down in the main bigger city then venturing 30mi towards the biggest suburb.

Joint Venture / Partnerships. 

that makes sense, I want to get familiar with the tax strategy and hopefully venture into the STR world once I move in the next year or so, let's stay in touch!

every joint venture is different .

If you don't have sponsorship, by definition you don't have a deal - full stop. in some aspects, but but I'd argue in development you have to find land and partners at the same time. you have to have a competitive advantage and local knowledge. may not apply and probably different sectors. we break development up into multiple raises like Series A, Series B, etc in venture debt and discount equity tranches based on what stage the investor comes in for higher returns it's earlier like when we are investing in engineering services etc we recapitalize and spend our money with an equity sale and recapitalization. structured finance is so interesting