real estate business - entity structure

[Jeffrey B.]

Hello,

I'm relatively new in real estate investing and positioning to build a "buy and hold" model.  I currently have a couple properties jointly titled in mine and my wife's name, but want to establish a business entity before my next move.

Is an LLC the most common entity for a real estate business? If so, why?

I intend for this new corporate entity to be held by my wife and myself. If I select an LLC, is a husband/wife scenario considered a single member LLC or a partnership (we file joint tax returns)?

I'm new to the Bigger Pockets community and have already learned quite a bit.  Thanks for the support, now and in the future.

Jeffrey