How to properly structure multi-partner LLC for multi-fam invest?

[Geoffrey Serdar]

Hello,

A few friends and I want to build a company, smaller scale, where each person throws in $5-10k in cash, then leverage the cash with commercial financing, in order to purchase Multi-family.

They don't want to have a hand in the operation, my being more experienced in rental properties, it would be my duty to do so, with a higher ownership stake as my incentive.

The goal would be to hold the cash, continually re-invest it over 5 years then decide if all assets should be sold off and cash distributed - or moved into ever larger projects, what are your experiences with this?