Hello, I will be happy to assist you. After receiving your answer, and unless you have need for clarification, your accept (by clicking the green "accept" button) would be appreciated. Although you have made a deposit, I cannot receive credit for my work without your accept.
Actually, LLCs are probably the most preferred method of doing business in the US, especially for investment real estate.
The formalities are not as stringent as a corporation (you don't have to have annual meetings of shareholders and directors, etc.).
An LLC can also be taxed like a partnership (if there is more than one owner -- called a member in LLC speak), a sole proprietorship (if there is only a single member), and a corporation (either a C corporation or S corporation ("C" and "S" refer to specific subchanpters of the US Internal Revenue Code -- each has a different method of tax, but the main difference is that S corps have a flow through tax and C corps are taxed at the corporate level and at the individual owner level -- generally not a good thing)).
You would simply create your LLC by registering with the Florida Secretary of State. After that it's pretty straightforward and painless.
Most real estate investment companies with more than one member choose to be taxed as a partnership or S corporation -- which is best for you should be left up to a US certified public accountant "CPA".
I believe I have answered your question. As noted above, please let me know if you need clarification, and if not your accept would be appreciated. If you are a monthly subscriber, you must still click the "accept" button for me to receive credit for my work, but you will not be charged an additional fee.
If you later open a new question and would like my assistance, please begin the question with "To TMcJD...." This will ensure that only I answer the question.
Thank you for using JustAnswer. Your "accept" (by clicking the green "Accept" button) would be greatly appreciated. Although you have made a deposit, I cannot receive credit for my work without your accept.
You understand that your use of or communication on this forum, in any and all ways, is intended for general informational purposes only and shall not constitute and/or be relied upon as legal advice or be construed as creating an attorney-client relationship. Further, you agree not to rely on anything I say as legal authority and where appropriate for your own protection will obtain appropriate legal and or tax advice with an attorney or other professional licensed to practice in the jurisdiction where your legal or other issue arises.