Should I create an LLC to buy my first property via BRRRR

[Adelaide Wolcott]

Hello BiggerPockets Community! Hope all is well. I am planning to purchase my first property to house hack via the BRRRR strategy with my boyfriend. I am trying to figure out the best strategy to protect myself but also set up an entity to use for buying houses as I acquire more. I know there are many first time home buyer incentives so I am not sure if an entity buying the house changes that or not. I also want to structure things in a way to protect myself and my boyfriend from any financial disputes or complications- keep everything 50/50 between us. The goal would be to follow the BRRRR strategy until we could begin investing in multi unit properties, rather than the single family homes we want to start with. We are looking in the Knoxville area and are hoping we can find a mortgage with 20k down, and both of us will be newly graduated (less than 2 years full time working) so we know there may be some challenges with mortgage companies but we both have great credit. The goal is also to be as tax and passive income efficient as possible from the beginning so we can retire from our full time jobs into the world of real estate and other passive investing!