I have been looking into multifamily properties but there aren't many to choose from in my area (Orlando), and I need to pull the trigger soon before my lease ends at my current apartment.

If you do use a C-Corp, S-Corp, Partnership, then you are required to charge a "market" rate...I think it's around 3% right now...so you can use another entity type as long as you follow that regulation.And we aren't violating anything....we are actually FOLLOWING their rules.  

I have been planning on 1031ing up both my LLCs at a later point (individually because one is a partnership). 

So, what business structure or partnership structure makes the most sense to setup to do that?

Purchase price: $60,000 Sale price: $249,990 Purchased as a partnership to flip.

Purchase price: $60,000 Cash invested: $100,000 Sale price: $249,990 Purchased as a partnership to flip.

I have a very good friend who is also a loan officer, so leaning on him for financing advice and best practice has been invaluable.While I can overcome the first widely conceived barrier to entry (money), I find myself hesitating to pull the trigger.

Newbie here wants some advice.I recently came cross an opportunity, where a friend of my wife and his business partner plan to start a partnership to flip houses in NYC boroughs.

This can inform how much equity you provide in return2) Partnerships are a big part of most of the success stories on BP so embracing that mentality early can enable accelerated scale3) I like arrangements where incentives are aligned so it’s a positive that your GC cares about the project outcome and value created as much as you do4) With 4 kids and a full time job you may want to include some passive investing via syndicates in your strategy.  

They just could not pull the trigger.