LLC for first property? Multi family with dad

[Brandon Geddie]

I am looking to purchase a multi family property with my dad. I am aware of all the cautions about investing with family and friends but I bet posters to not discuss this here. My question is about if we should go ahead and set up an LLC together or 2 LLCs prior to moving forward with putting in offers and buying. He has 3 mortgages already (1 rental and 2 primary residences) and this will be my 2nd mortgage (I have one on my primary residence). Any advice on benefits or pitfalls of going the LLC route would be greatly appreciated!