How to best structure a deal with one partner (Turnkey specific)

[Eric Dritz]

Hello,

My business partner and I are beginning to get serious about investing in real estate and are going to start with a Turnkey property first and then scale up. We’ve gotten referrals to speak to people about how to setup the deals with the most protection but wanted to ask all of you as well.

The mortgages will be in individual names, but I understand that we could have the title under an LLC. Is that the best way to go about it? And how does that impact taxes at the end of the year, considering that the LLC won't actually own the mortgage?

Interested to hear others’ perspectives about this!