Corporation vs personal when buying and holding

[David K.]

Hello BP community! My partner and i just made an offer on our first 2 buy and hold properties. Should we open up a corp or simply use our personal names for now and going forward? Corp means that I don't get the same mortgage terms, personal means that I need to get a balloon insurance (whatever that is). Also from the partnership point of view especially for a long-term ahead, I want to make smart decisions now so I don't regret later:)) I would appreciate your input on cons and pros - I need to decide quickly which is the proper way to go! Thank you all!