have a chance to buy into a power center with my nephew. this was a long established business that closed its doors due to a devoice not the nephew. . the business has been closed for 1 year. my nephew helped run the business . my questions to you is should it be a llc, or what kind of business should it be. the business has no leans on it and has all of the tools and parts to open the doors . what kind and what limits of insurance do we need? we will be selling new dixon , snapper and stihl equiptment, along with some used mowers and repair of misc equipment .we will own the land and buildings and will plow some snow in the winter time. the only people in voled in the business are myself and my nephew. thanks.