What is the best way to structure a joint partnership venture to buy multifamily property? I have been told to form 2 LLCs. One to purchase the property and one for the general partner. The GP would be on the deed of one, and hold 90%( relative to his down payment). How does this work? We are looking to get involved with little or no skin. We are hopeful of seller assisted financing to provide the other 10% down.
Thanks for your comments and suggestions.