If you really want to do it, why not structure the arrangement such that one of you is the owner, and the other is a lender who is entitled to x% of profits? Of course you need to lay out responsibilities and such in a contractual manner and provide terms for dissolution.
Frankly, this is probably much more trouble than it's worth for a single family home. It would be different if you were looking into buying a larger chunk of real estate, but in that case, you'd also have what you don't seem to have just now--and that's experience.
I understand you're excited about real estate, but I'd recommend patience for the moment. Wait just a little bit more and get your first investment solo, run it by yourself, learn from your mistakes, and then, if you still want a joint operation, go for it.