What entity is best for Buy&Hold with siblings as partners

[Christopher Hand]

My two brothers and I will be inheriting close to 1m and and with them being younger (27 and 22) they want to invest this money since they don't have many uses for such a large sum of money now. We are looking at investing a large portion (750-800K) of this in buy and hold properties focusing on cash flow. Currently my middle brother and I own a SFR in Las Vegas jointly and I personally own a duplex and my primary residence with my wife.

I am getting a little overwhelmed as to which type of entity we should setup for this partnership. Should this be a LLC, LP, or FLP? We also might be looking at putting part of the investment into some performing notes as well. Any feedback or questions to pose to a CPA would be of great help.

Also any recommendations for a cpa in the east bay area would be good.

Thanks in advance

[Thomas S.]

Divide the money as outlined in the will and let each take their own separate path in life. For the younger brothers, assuming they are not experienced in managing money, a financial advisor would be advised.

I would work together if that is the choice but not intermingle the money. Three separate investments based on possibly joint decision making process with each individual brother having the final say in their individual investment. I would absolutely not form any sort of partnership.

There is no risk in jeopardising the family relationship by not patterning where as the risks of partnering could produce a negative outcome.