Partnerships and Legal Entities

[Jeremy E Van Dam]

I am curious about the best way to structure a partnership between multiple parties. For example if you have three people pool money to purchase a property, and then they want to use the profits from the first property and the funds from a fourth investor to purchase another property. What is the best way to structure the this type of setup where the first 3 have equal ownership of the first property and all 4 have equal ownership of the second property? Also I want to minimize the tax penalty of paying out and reinvesting. Thanks!!!