Setting Up Legal Entites

[William Davidson]

Hi BP,

My brother and I lost our father a couple years back. He left us some amount of money, and we already have one deal in California that is bought outright. We are looking to invest in Arizona, since it is close to him in AZ and we could check on the prop/ maintain it easier. When it comes to having two properties in two different states. How should we go about setting up this partnership?

1. 1. LLC filing as a partnership holding both properties?
2. 2. LLC filing as a partnership holding llcs below that each have the properties seperately?
3. 3. No LLC as of right now?

Also, what is the best way to insure these as well and protect ourselves?

Thanks,

Billy