How to set up an investing group

[Mindy Nicol]

Hi there, I have investors that want to contribute to deals but not cover the whole project. I'd like to create an investing group where I can invite select investors I know and trust to partner on opportunities that I find. These would be flip projects so they have a clear exit point and likely 5 month reno. If you have done this successfully I'd love to hear from you! What is the best way to set it up? Should I set up an LLC, bank account for each venture? I am in Florida. Thanks in advance.