How to structure a business with multiple investors or partners

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I currently work a W-2 job with several other coworkers who are interested in real estate investing. My goal is to figure out the best way to structure a business that includes anywhere from 2 to 5 members. Ideally, I would like to start and run my own business. However, since I am new to real estate investing and have limited capital, investing with others seems like a good (best?) option. Also, I should mention I live in CA. I don't know if that'll make a difference as far as business laws are concerned.

Is it better to form my own LLC and have my coworkers (investors) invest in the company or should a business entity be formed that includes all 2-5 members, each with equal share in the company?

Please feel free to ask any questions if my situation is unclear.

Thanks guys!

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