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LLC or Not for First Rental?
All,
Long term follower of BP and gearing up to get my feet wet with my first rental property.
Equity will most likely come from my parents and I (not a proportionate split). Would it make sense to structure this through a LLC for more protection and flexibility with moving money between us all? What are the tax benefits at a high level?
I'm inclined to do the first property without a LLC for more favorable lending terms (30 year loan vs 5-7 year loan with a LLC). Is that short sighted if I plan to grow my rental portfolio long term?
Open to any advice and hope all are well! Thank you!