Structuring Rental Business
Hey-
I have a few questions for the experienced out there:
I am working with two partners and we want to start purchasing rental properties. We were thinking of purchasing the properties individual, alternating between us and having all three people on title. Is this the best way to go in terms of purchase?
When rents come in, should we have them come into an LLC to divide equally at that point or does it just make sense to bring them in personally and just pay out the partners?
As far as taxes go, how do we structure the properties to make it equal tax breaks for the three of us? For example if Partner A buys a property assessed at 120k and partner B is assessed at 140k. Again we would all be on title for this scenario.
Any help would be appreciated.