corporations

I am in a partnership (myself and another person) that has recently purchased an 8-plex, and a 5-plex, and we are wondering what entity we should use for the most protection, as well as tax benefits. We will also be re-habbing (Buying, fixing and selling) houses, and are wondering if the same entity should be used for it also. We are operating in Kentucky (Lexington) and are not planning to buy any more rentals this year. In the next 4 years we will probably be buying another 7 or 8 hundred thousand dollars in rental, or perhaps doing a few as early as next year, if our re-habs go as planned. Please give any insight that you have had in your experiences. Thank you in advance for your insight.
Brad

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by learning2fly:
I am in a partnership (myself and another person) that has recently purchased an 8-plex, and a 5-plex, and we are wondering what entity we should use for the most protection, as well as tax benefits. We will also be re-habbing (Buying, fixing and selling) houses, and are wondering if the same entity should be used for it also. We are operating in Kentucky (Lexington) and are not planning to buy any more rentals this year. In the next 4 years we will probably be buying another 7 or 8 hundred thousand dollars in rental, or perhaps doing a few as early as next year, if our re-habs go as planned. Please give any insight that you have had in your experiences. Thank you in advance for your insight.
Brad<HR></BLOCKQUOTE>

Hire a tax attorney due to complex answers and varied issues.