Dealing with partnership tax for multi-member LLC

[Elizabeth Diskin]

Husband and I set up two SDIRAs and merged funds into multi-member LLC to buy a vaca rental property for a slow flip (fix, rent a few years, sell when market looks good.) We are NOT borrowing any funds in this plan, so not worried about UBIT or other. We know we'll have to do 1065 filing b/c of the multi-member structure, but it still seemed easier and more economical than creating and maintaining 2 LLCs... since we dont' have plans for many members or lots of properties, etc. We're now learning that in IL there's also a partnership replacement tax that is essentially 1.5% of NET income, due each year. It's a none issue at first b/c we don't really expect NET income that first year, but in future years, if we net 20K, does it seem like a big deal to owe about 300$ in addition to our LLC maintenance costs? I'm guessing that's still less than the maintenance costs of filing and maintaining 2 distinct LLCs, (75$ each) though we'll also pay someone to file those 1065s forms (at least in year 1 and 2 to be sure we're doing it right) which we wouldn't have to do if we had two LLCs. I guess, long story short... does it seem like this is such a pain in the *** that we should spend more $ now and restructure, or this is no biggy? Also, wondering if anyone knows if MI handles partnerships differently. We are in IL but property is in MICH so maybe we could have LLC based out of there...? Just wondering if anyone has thoughts, ideas on the matter. Thanks!