Partnership investment in real estate - will an LLC help with anything like reduced taxes (additional deductions etc)?
Let's say 2-3 folks invest in a real estate investment together by drafting up a partnership agreement based on each person's investment potential. Will LLC help in anyway, or is it not worth the effort going that route? Still in researching stage and so I don't know much about this - please share any wisdom/gotchas you learnt from your experiences over time.
Assumptions: There will be a GC holder on the LLC who will be actively managing the property. The partnership agreement will clearly state that, and that the remaining folks are just passive investors - so that their investments count only as passive investment, and so will not conflict with their H1B status.