First Property Entity Tips

[Matt Rosenberg]

Hello,

I'm part of a group of three individuals looking into purchasing a buy and hold property, in a college town that will be rented to college students. We plan to contribute equal capital to the investment, and reinvest any proceeds toward the acquisition of new properties. I am concerned with whether we should incorporate (LLC I'm assuming) prior to acquiring the property, transfer the property to an LLC after acquisition, or simply not establish an LLC yet. If we choose not to establish an LLC, what is the best way to assure we are equally liable and equally entitled to our share (1/3) of the profits?

Does anyone have any experience with something similar to this?

Appreciate any and all advice regarding this manner.