Structuring Partnership with parents

[Ray Smith]

My parents have $200 - $300k in capital they would be interested in using to start a portfolio, but would be more comfortable using less than $100k if possible. My wife and I have $30k max to contribute.

1. How would you recommend structuring a partnership like this? My parents are flexible - for example, they would be willing to give us a larger percentage of the LLC than we could truly buy into in return for our sweat equity running the operation/figuring things out.

2. Any other general advice on this situation?

Other helpful information is: My parents' goal is to have some extra cash flow in retirement in 5-10 years, and maybe a couple of AirBnBs to stay in when they want. Mine and my wife’s long-term goal would be to acquire enough properties (longterm rental/airbnbs) for it to be one or both of our full time jobs.

Thank you all so much!