LLC, LP, or Other for Group

[Chandler Ludwick]

I have 4 friends and we want to pool our resources together and purchase rental properties in the city we all went to college together in (focused on student housing). All split equally down payments and returns. We will not be managing these properties ourselves. 

Generally what structure would be best suited for us to organize under? I have been reading about LLC's but I read that we would not be able to use certain benefits that a solo person would (like FHA, lower tax rates, etc).

Thanks in advance

[Alex Deacon]

@Chandler Ludwick you need to seek out a very good CPA and RE attorney. They should both speak the same lingo and they will help you navigate the maze of asset protection and tax liabilities that come with the different entities that can be formed. I have done thousands of transactions and I still to this day consult my experts before making a large decision like the one in front of you.

good luck to you