Partnership Structure - California

[Brandon Duncan]

Hello!

I'm working with a family member and a couple friends to purchase several buy and hold properties in San Diego.  We will be putting 20-50% down and will be getting traditional bank loans for the rest.  Cash flow is expected to be small but meaningful. 

What should we be doing from a legal structure standpoint?

- Easier to create LLC (cost in CA!) or just hold title as a whole? Or hold title myself and create a contract with all the partners seperately?

- Do I need to generate tax documents as the end of the year?

Thanks for the help everyone!

Brandon