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Updated over 7 years ago,
LLC, S, or C corp???
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.