Need PA attorney for Operating Agreement with waterfall structure

[John D.]

Hi all,

We are looking to invest in a few SFRs in PA and we will be doing this through a multi member LLC. We need help from an attorney to create an operating agreement between 3 friends as members. Two members will be the managing members and also providing capital, and one member will strictly be providing capital.

We would like to put a waterfall structure in place for any money distributions, including preferential return on cash yield, and an IRR hurdle for liquidity events, etc. and we would like all this to be clearly spelled out in the operating agreement.

Which type of lawyer should we work with to create this operating agreement and does anybody have any good referrals for attorneys who are good with this type of work in the PA area?

Thanks for the help!