Hello,
Looking to get anyone’s advice on the best business entity to purchase and hold rental properties. Have been reading various articles comparing most ( llc vs. c corp vs. s corp) , but am hoping to get some insight from this forum.
State-pa
Property type- single family (ranchers)
Simple is best so LLC my choice
LLCs were created for simplicity’s sake and with their easy set-up and structure they’re hard to beat.
But I’d very much recommend that you hire a biz lawyer to set it up for you and draft the Operating Agreement so you and any other members (pvt lenders, contractors etc) all know exactly what your own rights are and how and when you’ll each get paid.