Don't spend too much time structuring partnership right now, you need a deal   

Most syndications are structured as a partnership (GP/LP). 

In addition to filing the LLC with the Secretary of State, you will need to create an Operating Agreement to control how the entity functions.

When, how and why to incorporate is a very personal question that considers your assets, liabilities, exposure, partnerships, and risk tolerance. 

None have functioned that well for us.

He is doing it more out of goodwill to help me get launched as a house flipper than making max profits.He asks that I be the driver of whatever arrangement we make, and I need to get an operational agreement together before big decisions are made.Objective:Looking for a good template of an operational agreement for a Partnership LLC where one is the investor, and the other is the manager/renovator.

Someone like an investor minded realtor in the area you want to invest could function in that role and be paid outside of commissions or profit share in the equity etc. 

Clerks are generally not confirming anything stated in a deed, they are simply handling the recording function. 

We have an established partnership LLC as personal trainers (since 2019), and we are looking to take advantage of our good standing with the credit union we bank at.

Maintenance is a function of time and expenses.