Alex Cordero , not sure what you are intending to do but the value of the LLC is meaningless unless you are the manager of the LLC of have special rights via the operating agreement.If you are lending on a property that is in a LLC, then ask for the deed or put a mortgage on it.If you are investing via a syndicate, then have an attorney review the partnership and PPM docs if this is your first time.

If I would you I would do first deal with partner ship with a known person.

Just to clarify, it's a little easier in my situation because I don't use mortgages to purchase the properties, so I can get some great deals and pull the trigger fast. 

As stated, risk to build is a major factor of pulling the trigger. 

We are just a little nervous to pull the trigger and we just recently bought our own home at the end of the year.

Both the LLC and LLP offer flexibility, and both can be taxed as a partnership.

With that being said, generally you cannot get real estate out of a Corporation without triggering tax implications.

I'm about to pull the trigger on my first property.

I met with him today and his business partner to discuss possible partnership going forward...

What partnerships, LLCs I am a member of (and whether I am active or passive).4.