What is the best classification for an LLC which purpose is to own real estate: Partnership, Corporation, or S Corporation?

I don't have a single one left now because of our failed partnerships similar to the one you have mentioned here.

If my PM did leave, I would hope that he'd want to figure out a mutually beneficial type of partnership where we both profit off the split.2.

He was in a bad partnership with another guy that I believe went to jail.

Am hoping for new projects, ideas, partnerships..

I am a strongly inclined to stick with my original suggestion of the loan from the original account if at all possible; however, you could consider setting up a partnership with the IRA; however, you must be very careful to avoid UBIT and prohibited transactions which is easy to do if you partner 50/50 or an initial set percentage could be 10(personal)/90(IRA).

One slip is like renting an 6' (3' on each side) X 20' deck on floats anchored.....we will see....I just mess around now, having partnership interests and note/conduit relationships with seasoned business folks, those I have known for years.

Could we set it up as a partnership with specific buyout time frame.

This is under a separate single asset holding partnership with only our managing partners and a couple of their family members having stakes in the deal Originally posted by Joel Owens:How old is this building??

As a multi-member LLC you will be taxed as a partnership (unless you elect corporate status, which I don't recommend in the case of buy and holds).