The limited liability company is a summary of the project, project cost, the amount each partner would have to invest, the estimate that the project would be completed and the percentage potential return on investment. Once the project is completed the limited liability company ceases to exist.
If another project is started it starts another limited liability company.
This would allow you and your partners for projects as many or as few as they wanted. There are times when one partner does not want to participate in a given project and for some reason.
A real estate attorney can be instrumental in the establishment of such limited liability company up. Usually there will be a fee of about 10% to set this limited partnership or a flat fee can be arranged. Both methods are used in the United States.
To Consider
Start an "S" or "C" corporation would be nice, but strict in reporting to federal and state governments, obtaining the EIN and tax.
You may consider looking into an LLC, the tax is different and is shared by every member of the LLC, addition and subtraction of partners would be a challenge, but doable.
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