Forming an LLC necessary for a JV?

[Romeo Ceja]

Hi all,

I'm preparing to build my first home in a couple of months, financing is already in place. And I'm thinking of what my next purchase will be after that, so I'm thinking of doing a joint venture through Forming an LLC to purchase short term rental. My question, is the LLC it's own entity with its own buying power? Or is it using our personal credit lines to purchase through the LLC and how does that affect our personal credit and buying power for future deals? I heard something about business credit vs personal credit?

Look forward to hearing form you, 

Romeo