A couple of unrelated friends and I are interested in buying a condo and splitting it three ways. We will be using it interchangeably as a rental property as well as living in it ourselves sometimes. We were thinking of just doing a percentage based ownership of the property based on what each of us have paid in at any given time since we have different down payment amounts and may contribute different amounts in monthly payments as well.
Two of us already own homes as well individually.
Any tips on how accomplish this and where to start are needed and welcome please. Do we have to start an LlcLLC or anything like that?
Thank you