1 Time Partnership for Long Term Flip

[Ray Dorrough]

Hello, I am a RE agent wanting to advise my client on a long term residential flip. The situation is as follows. 3 individuals (my client included) want to take equal parts ownership in a flip that will take 2-3 years in build time. They would like to equally share in the building, design and purchase expense. All of which will be done in cash. Is creating an LLC with equal parts ownership with a business checking account to match be the most equitable way to structure this?