Looking to purchase my first property as an investment with a friend, everything 50/50. It will both be our first. LLC or Joint Venture ?
The answer is "it depends." If you are looking for asset protection from liabilities arising from a potential lawsuit then you will want to strongly consider an LLC. The partnership paradigm of the LLC structure will cleanly split your profits and losses, and allow you to easily manage the asset through its rental life. Talk with your local attorney or CPA to discuss the details further. Good Luck!
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