Best entities to use for investing with partners?

[Christopher Dulgarian]

Hi Everyone,

I am looking to start purchasing real estate with my 5 siblings, and I'm trying to figure out the best way to organize our entities to ensure we have both asset protection through LLCs, as well as tax advantages.  Additionally, we'll need some flexibility in case not everyone wants to participate in every deal.  Did anyone else go through this recently and have any advice/suggestions?  At the end of the day I realize I should go to an attorney for advice and help setting this up, but was hoping to get some initial feedback to have an educated conversation.

My initial thought was to create an LLC for each individual property, and then one for each of of the siblings. Would love to hear about others' experience in this area. Thanks!