LLC, S, or C corp???

[Steven Davis]

I've done some research (rich dad adviser books, google) and have decided to go with an LLC for my situation.

Specific situation:

Currently own 5 houses, looking to purchase a 20+ unit complex this year. The next 5 years are going to be getting bigger and bigger apartments. I am going to go into some deals with investors to finance the rehab & operating expenses. Moving into wholesale (for extra cash) and will continue to do so for another year while looking for the apartment. 

I've heard a lot of different opinions like "LLC's are only for people who don't trust their partners" and that LLC's are for partnerships.

I am going to talk to a tax professional in my area for my specific situation but am here looking to learn. 

What do you think? If I've left out any info, I apologize and will answer any requests. 

[Steven Hamilton II]

Since you are holding rentals you will want a SMLLC or you will want to hold in partnership with your spouse. NEVER EVER Hold real estate inside of a corporation as it is the "Tax that Never Dies". I'm currently writing an article on the topic. I'll be posting it on the blogs here.

The only two situations for holding it in a corp is a Real Estate Investment Trust OR a Non Resident of the US.