Using HELOC for Real estate Investing

[Jimmy Bermeo]

Hey BP!

 A Family member and I want  to partner up and invest in a rental property

He offered to use his home equity and some Cash.

He will be the investor and I will take care everything else.

We live in the NYC Tri-state area

I've  been doing alot of research in the Tri-state  market, learning all the terminology and analyzing deals(still alot more to learn)

My goal is to have a real estate portfolio and have multiple  properties  in different  states

What should be our next steps?

How should a partnership  be structured?

Do we need a LLC?

Thank you in advance!