Best structure to help my son in biz

[Joe S.]

I have a son that is now 18. He has worked on a number of our houses remodeling them and he has saved his money. He's a good son and has demonstrated responsibility and hasn't given my wife nor myself a hard time doesn't party or carry on a bunch of foolishness. He has a nest egg of sorts that can be used to him saving money. I've tried to talk him into going to college and even told him that I would pay his way. He wants to do real estate instead. He's nervous to go out on his own buying houses. I have years of knowledge in real estate. I could tell him what to do which I have. It's just he's nervous to go solo. If I helped him and get personally involved, then at that point, I feel like I probably should form an LLC and be part owner of it. I am fine for him to form his own LLC and simply give him guidance, however I'm thinking he would make more progress with me being more involved for the outcome even if I did have half ownership of the properties/business. If my son and myself form LLC together and I helped him with his first several years of investing before he went off solo. I think it would really put him light years ahead of the curve.. As far as taxes go I'm not sure how that would affect the taxes as far as tax returns Wereas we would both be owners of the LLC as well as we would each have our own separate tax returns.
These are my thoughts. Any suggestions, guidance in the right structure, or pointers from someone that’s been down that Road are welcome. :-)

[Allan Smith]

Sounds good. Form an llc with him and get started! Taxes trickle down to your personal tax return prorated to your ownership percentage. Didn't really see a specific question that you had. Sounds like you have the plan go ahead and do it!