Forming LLCs for rentals

[Mike Jones]

I have few things in mind and not sure on how to go about it.

I have 1 property in MA where i reside and will be closing on a second one soon and I am starting to look into LLC.

The first property has my name on it, and want to quit deed it to the llc once formed.

The second property will be acquired with a partner who is bringing in a very small amount of cash into the deal.

Here is what I am thinking for structure:

--1) Form a Single memeber WY Holding LLC with just me on it.

--2) Form a multi members MA LLC owned by the WY LLC and my partner(he will have a very small percentage) This LLC will house both properties

--3: Once I raise enough cash, I will buy him out and get him off the MA LLC that has those 2 properties. Make a 3rd blank MA LLC own by WY and him. We will use it for Fix and Flip deals.

Please let me know what you guys think. I am new to this so please be patient

thanks in advance