16 unit complex EIN Number for TIC

[Tyler Brown]

Hi BP, 

I'm nearing closing date for a 16 unit complex. I'm entering into the contract as a tenancy in common with my business partner with plans to switch into an LLC myself soon after and then have my business partner join the LLC later given that he is using money from a 1031 exchange. For tax purposes, should we obtain an EIN number? Or could we both just submit schedule E's reporting our half of income and expenses? Thanks in advance