Forming a corporation or LLC with multiple partners
Hi All,
I have spoken with a few friends that are looking to purchase some buy and hold properties in the NYC/Westchester/Lower Hudson Valley area. We are deciding on all putting in a fair share of $50k each to start. The thought is to start a corporation and everyone have a equal share of everything. What have you done when it comes to managing with multiple partners (5-6) or at that point are they considered investors and have one person manage all the day to day?