Business Formation - LLC vs S-Corporation

[Skyler Holloway]

For two partners looking to BRRR into long-term business (5+ years) in Nevada, which option is best?

From what I can tell, LLC has lower annual fees, same liability protection, and a bit more flexibility during management. S-Corp has some extraneous benefits (issued shares, survivability, separate entity), and the option to be taxed pass-through or not (so, no benefit vs an LLC on taxation).

It also appears that we can convert from an LLC to a S-Corp in later years.

If the plan is to build a portfolio of properties over time without flipping (IE, not focusing on immediate income that would be subject to Social Security and Medicare Taxes), should we just start as an LLC? Or, am I missing a compelling reason why S-Corp makes more sense now.

Any input would be great! :-)