Three partners flipping. LLC or LP?

[Ivan Reyes]

Hi can someone give their advise on this?

- We have three partners. One credit person (hard money loan), myself and one other find deals and manage flip.
- Should we all be members of my LLC, title property in LLC and then we split the net when we sell?
- Or should and LP/LLP be in the mix somewhere.

We have a property already under contract so I guess we should of had this finalized sooner.

Thanks.

Ivan