What do most small buy/hold partners use? C-Corp or S-Corp LLC

[Jared McCullough]

Looking to start my second LLC with my brother.

I am currently involved in a "3 way" partnership LLC that was drafted by a lawyer. He didn't even ask at the time which we wanted he just submitted it as an S-Corp. Me at the time not knowing anything about any LLC's didn't even know there was options I just assumed the lawyer knew what he was doing.

The purpose of the business will be potentially up to 50 buy and hold rentals. If it makes a difference we plan not to touch any of the money for personal use (i.e. "distribution") until we have reached our goal so all the money will be reinvested for  business purposes.

As I know a lot of the people in here are in the "buy and hold" model I am wondering what path others have chosen and why. More importantly those that do not take the income for personal use.

Jared