Joint Venture and LLC

[Peggie Tyree]

Good morning. I am seeking advise on business set up for purchase with two friends who already have an LLC and have flipped in past. We are considering purchase of a commercial property. Is it best to have two separate LLCs or start one together ( all three of us). We live in the state of Virginia. I have a business LLC but would want a separate LLC for real estate. I do own three other properties. But should I keep those properties separate of the commercial property since it would be co-owned?

What would you recommend with my best interest in mind.