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Updated over 16 years ago,
LLC startup questions
I am looking to startup two LLC's. One for my investment partner and I to purchase and hold rentals. And one for myself to wholesale properties, and maybe own a few individual properties.
My questions are, what is the best way to set up the LLC for taxation purposes? I've read you can have it taxed as a C corp, but would this be beneficial for my purposes, and how do you go about this.
Do I need an operating agreement for the LLC that only I am in?
Can an operating agreement be altered after the LLC is set up?
How much can I expect to pay for an attorney to draft up the documents necessary?
Thanks in advance for all help.