LLC or LLP?

[Account Closed]

Good evening.

A good friend and I are in the process of creating a business partnership. Our business will be Flipping Houses. We will each be putting up an equal amount of cash to form this business. We would like to have the same amount of liability, responsibility, and risk.

Our business will be set up in the state of Georgia. What we would like to know is, should we set up our business as an LLC or an LLP?

So if anyone has any advice and what would be the advantages/disadvantages of each I would greatly appreciate it.

Thanks.