If we entered this partnership he would most likely have to personally co-sign.

For example, if I purchased an industrial warehouse that sold widgets and the value that we derived for the property was $2,000,000 and I then managed to raise $400,000 from a total of 20 folks who were solely interested in a debt partnership with my company.

I have a TIC partnership on a bunch of SFD's I/we own, but this sounds a lot different.

Otherwise, not necessary)Mortgage PayableTenant Security Deposits HeldEquityTotally depends on your structure, but could be:Owner Contributions (for sole prop)Owner Draws (for sole prop)Member Contributions (for LLC/Partnership/Joint Venture)Member Draws (for LLC/Partnership/Joint Venture)Capital Stock (for S-Corp or C-Corp)Additional Paid in Capital (S-Corp or C-Corp)Shareholder Contributions (for S-Corp)Shareholder Dividends/Distributions (for S-Corp)Retained Earnings (all forms)If a few number of partners/members/shareholders, then one Contribution/Draw account per person/entity.  

Small investors should do what they always do - make sure the numbers add up and pull the trigger.  

@Kevin Carbonhas a group of actual BP members that get together of a meal and drinks, share advice, stories and even strike up partnerships for deals.

I would really like to strike up a solid business relationship/partnership with a GC or investor and just see where things go. 

I am needing to know if I should setup a llc with both of us being members or would we benefit more by making it a partnership?

Or give you a leg up on a partnership to split up the risk load.  

Hi @Mai Vo,I was curious if you have pulled the trigger on a turnkey property.