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Updated over 2 years ago,
Partnership Logistics for New Property
We are closing on a property in FL this week that will be used as an investment property (rental). I have a few family members who will be passively investing.
We will close the property in our name, and then transfer it to an LLC. Here's where I'm a bit stuck:
• Do we need to form an official partnership outside of the LLC, or is the LLC itself sufficient?
• Does the LLC/partnership need to be formed within FL where the property is, or can it be the state where I live?
This is my first time doing a property with outside investors so I'm unsure of structure!