small partnership questions

A partnership is as good as the partners. Keep an engine reserve. Keep
a seperate aircraft checkbook and credit card. Make sure your partners
have more money than you do :-).

TTA Cherokee Driver wrote in message ...
As part of due dilligence in deciding whether or not to buy a plane and
if so how, I would like some feedback from people in small partnerships
(2-3 partners).

How do you usually handle scheduling? Do you divide up the calendar
("every other week is mine") and if so how flexible is it? Or do you
just do it ad hoc? How do you resolve conflicts, like you both want to
take a trip on July 4th?

How do you finance and own it? Do you form a corporation, or just get a
joint loan with joint ownership?

How important are compatible flying times? I.e., if one partner flies
2-3 times the hours of the other, does that cause problems, particularly
for scheduling and availability for the partners?

any feedback or info on this topic would be appreciated.