Should I do JV or create LLC?

[Kathy Leach]

Hello:

Two associates and I are discussing doing a JV on a property. I think that we will want to do several properties. Do we need to do a separate JV for each property? If so, would it be more beneficial to create a LLC with the 3 of us? Each of us is in a different state. TX, WI and MO

Thanks!