Structure for purchase - partnership

[Damon Tyler]

I have asked two attorneys (that I have given work to) along with my CPA and can’t get a straight answer. Help. I need advice regarding entity structure. I would like it to be the safest and also the least costly as far as taxes. My next purchase is going to be a multi family (4 unit ~ not commercial yet) in upstate New York, however, others future purchases could be in other states (WI,FL). This purchase will be with a partner. I live in MA, one partner is in Ma and the other is in FL. My partners have an S Corp. registered in Florida state and they would like it (that S corp) to be a member of the new entity. If this were for flips I would set up an S corp ,however, we will be following a buy and hold strategy. I was planning to set up a Massachusetts LLC or LLP. If I created an LLP, I believe I could have the LLC (or S corp) be a member but I’m not sure if I can do that with an LLC, and I am unsure what the best structure may be to balance protection and taxes. Also not sure if a trust would be a good option. Any help is appreciated.