LLC or C-Corp?

[Saurin Pandya]

Hi All, 

This is in follow up to my earlier question, where I inquired about setting up an LLC.

I was discussing about REI goals and plan to setup an LLC with couple of like minded colleagues. They highly recommend me to setup a C-Corp rather than an LLC since my primary goal is to invest in rental properties. Can anyone shed some light on this topic? My goal is to invest in 1-2 rental properties in the first year and gradually start rehabbing. Also, I don't plan to have any partners and will not have employees for the first 2-3 years. I've heard and read pros and cons about both LLC and C-Corp and its getting little confusing for me. I strongly feel that I should stick to my original plan of setting up an LLC but I'd like to get a second opinion from experienced investors out there. Should I be setting up an LLC or C-Corp and what things do I need to consider while making this decision? Please advise.

Thanks,

Saurin. 

[Vincent Incopero]

LLC or S Corp