Buying our first property in an LLC

[Stephanie Southerland]

We are currently writing an offer on a property to live in and do a long term flip. It will be owner financed, and we would like to buy it in an LLC. We currently have an LLC registered with the state of Arizona, but haven't done articles of incorporation, by laws, structuring, etc. We just have it set up with mine and my husband's names for managing members. Can we put the name of our LLC on the purchase contract, and do all of that other stuff later, or do we have to do all of the other stuff first? This owner will not be doing any other seller finance deals, so we are basically exempt from Dodd Frank issues either way.