LLC or partnership question

[Seamus Garvey]

HI all...looking for a little guidance. My wife & I, along with her sister & husband, are looking to purchase a lake property together. We will use primarily as a vacation home for ourselves, but may at times rent it out (via airbnb, vrbo, etc). We are wondering if we should form an LLC (with each of the 4 of us listed, or just one from each couple???), or if we should form some sort of partnership (LP, LLP,LLLP??). We are in Wisconsin, if that matters. Thanks for any advice.

[Craig Sloan]

@Seamus Garvey an LLC is often a great structure but understand by creating a multiple member LLC you will be required to file a separate tax return for the entity. I would advise speaking to your accountant and attorney prior to forming an entity. Best of luck.