Business Rental Property Real Estate

Real Estate/Rental properties....LLC, LLP, S-Corp?

I am in the process of starting a part-time (full-time at some point) residential rental property business with a family member. There is a possibility we may venture into commercial real estate. We will be in business in Indiana and have no debt. I will be providing some financing with the majority coming from the family member. The long-term plan is to have me be the employee and slowly purchase a majority of the business from the family member. Are we better off as an LLC, LLP, S-Corp, etc?

It should depend on your state since LLC and LLP vary widely from state to state. S-Corp is best for expensive property. Commercial real estate could be small store fronts to entire office buildings. You can have up to 75 investors with a S-Corp. You would likely not function adequately with a LLP in that scenario.

Commercial Leasing Tip #11 for Local Business Owners

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