We`re considering a JV with another individual. He fronts the downpayment and closing costs, we did the research. We are not `familiar` with him and are doing our due diligence regarding his character. However he is still concerned about his investment "leaving town". After talking to a lawyer I`m more confused than ever as he`s proposed that we take out a first mortgage to our co-owner for the downpayment amount. However this is a pre-purchase sale and our intention is to flip it before it comes to completion for a 50/50 profit split after reimbursing all expenses to the money partner. Is simply putting both names on title and a contract stating our intentions enough to keep it accountable? Any advice is welcome. Thanks!