Structuring my real estate business

[Peter Bras]

My wife and I have invested on our own for a long time and we are starting to look at bringing in some investors to partner on short-term rentals. I am setting up a business structure to allow other people to invest in real estate with me and am looking for some advice on how to structure this business. The over-arching concept is to have a LLC or similar that my wife and I own but would be able to partner with other investors on different properties under that LLC. This may look like individual partnership agreements for each property with the LLC acting as the property/asset management service. I want to be able to invest with one person on one property and another person on a different property in the most streamlined way possible. Does anyone have any ideas about how to set this up or things I should avoid? Thanks for the help everyone.

[Tanvir Sattar]

@Peter Bras have you considered creating an LLC in another state to cut costs? Obviously you would need a mailing address in that state, but it's worth a shot.