Company or Partnership!

Me and 8 other friends have joined hands and decided that we shld do investment into property. 

First roadblock now is 

a) do we write a partnership

b) do we have a company 

we do want to have this go for 12-15 years . we all do believe it will.

people who think partnership is good within the 8 people are sayin this

1) easy to setup

2) easy to manage

3) the bank will ask everyone of us to be a guarantor when we buy a property. so going for a company to mitigate the risk of being a guarantor thereby standing to loose all you have got outside of hte business is nullified

people who think company is good are sayin that

1) more secure

2) when someone leaves, we dont have to dissolve and restart the partnership on a property 

3) not sure if we can mitigate the guarantor problem after we pay off our first house. so we cant really say that being a company will safegaurd me or the other partners with the full loan to be paid in case the other 8 default.

I shall stop here. let you guys take it away…

what do you think ?

Partnership?

or 

Company and why?

if i do miss somkey points go ahead and post em so i can learn;)

to add to all of this ; what is a good 10 year projection software ; if u hav used one. like say if i chose to buy 350,000 dollar houses over the 10 years ( one every year), it has to show where i will stand after 10 years?

cheers

and thanks in advance

sidd–