Best way to share a property

[Matt Burr]

A friend and I who each own individual properties are looking to start purchasing property together. We each have our own LLC. We are buying in Southeast Michigan.

What recommendations do people have for the best way to make this work while protecting ourselves. My thought is form a JV in which each LLC owns 50%. I would assume we could also just start a new LLC with each of us owning 50% however we are both married so to please spouses that would land up with a lot of people listed as owner.

Any thoughts would be appreciated. 

Thanks

Matt