I am not a lawyer, but you likely want to take title in a corporation you solely own with a partnership agreement between your corporation and that of your contractor, if you intend to split the profits with him.

No registration shall be issued to the corporation or partnership unless every broker licensed with the corporation or partnership is registered as an officer, director or partner of the corporation or partnership.

Money to start and the time commitment you can give to your investments makes a huge difference in what and how you invest.Money to start if small will naturally limit what you have available to purchase unless you use a partnership etc. and pool funds.If you do not want to partner with anyone and you analyze what you can buy and do not want that then you need to move outside your area for a purchase or save up more money to buy what you are targeting.

Individual, couple, partnership, institution,estate etc.??

. - I've attempted to do a BRRR with delayed financing and was almost to the finish line when it fell through because I had purchased it with funds from my partnership's bank account but was applying for the loan in my name. 

What's better than forming new partnerships?! 

What you need to do is to draw up a partnership or JV agreement that sets forth the investment percentages and income splits. 

No partnership is better than a bad partnership.

- How do these partnership approaches generally get structured from a legal/contractual perspective?

The partnership can would then also pay you for necessary repairs, out of your own rent (and the heirs).