Investing with friends: How to divvy equity/LLC questions.

[Michael Hua]

Hello!

I and 4 other friends have recently banded together with the ambition to own/operate our first Airbnb rental. None of us have real experience with Airbnb rentals let alone real estate investment properties. The closest thing to this is that we all respectively own our own homes and that's as far as we go in the real estate game. 

We are all doing research and trying to figure out the best way to start it up, but it would be easier to get some insight from the fine people at BP to give us some pointers/advice or any information that would be useful. 

Some questions:

1. How did you divvy up the equity?

2. How do you properly gauge the work that goes into this? 

3. What type of LLC did y'all create and why?

Thank you!