Family Partnership Structuring

[Mark Nguyen]

Hi,

We, my sister (not in Florida state) and I, are planning to buy a property, single family or 2-4 units with sub to or seller financing. I will be living in one room/unit and renting out the others.

I am planning to set up an llc to hold the property. She wants to put her money to work and will fund the costs. I will find the property, put the deal together, talk to the seller and manage the property and the tenants.

Any recommendations for structuring and operating this partnership are appreciated.