Cabin Purchase with Parents - LLC or Not?

[Jeff K.]

Hello, long time reader, first time poster.

Spouse and I are looking to purchase a cabin with my parents. Planning to share expenses, mortgage, etc. until parents pass away, at that time they want this to be our "inheritance". Not planning to rent it out right away, but possibly in the future. I have a few questions below relating to the process/structure, greatly appreciate this groups input.

1. Should we take out a joint mortgage? (i.e. all 4 listed on mortgage)

2. Should the title be in all 4 of our names?

3. Should we create an LLC? If so, before or after the purchase?

I've read many posts similar to this (especially the LLC/Trust/none debate), not sure how my situation falls given the dynamics outlined.

Thank you in advance for your advice/perspective.