co-owning LTR with my dad

[Yevgeniy Vayntrub]

I'm a first time real estate investor, thinking of investing in a property with my dad to share some of the risk (and reward) and see if this game is for us. I have a question about the finances, in terms of how the profits and tax write-offs are to be shared in this situation? Or do we absolutely have to form an LLC?

[Aaron Zimmerman]

You don't necessarily need an LLC but you would want to get an operating agreement spelling out the roles and responsibilities as well as ownership %'s