Foreign investor wants to invest in me. whats the best way?

[Christopher Dunn]

I recently just bought my first MFH in Cleveland Ohio and have a vision to buy many more and hopefully own hundreds of units some day. My initial plan was to use the brrrr method and buy two or three small multifamily homes per year using my own savings/cashflow/refinancing to fund this. However, a foreign investor from Korea (my uncle) learned what I was doing and wants to invest in me. This seed money will allow me to scale faster and potentially achieve my goals much quicker. What Im wondering is what is the best way to set this transaction up? There are lots of tax implications with him simply transferring money into my name and so I was thinking of setting up an LLC so he would be an investor in the company rather than in me personally. Also does setting up an LLC change the way I get loans? Does that change the limit of 4 conventional investment property loans?

If anyone in Cleveland knows a lawyer or an accountant that can help me out with these questions that would be very helpful!

Also with scaling faster I am more interested in looking at commercial properties, good deals on 10-20 units to start in the Cleveland area which is exciting! Hopefully my goals will grow exponentially!