Any Pit Falls Setting Up a LC "Institutional" Account

[SeattleSun]

After 11 months lending on Prosper thru an LLC and chomping on the bit to see P2P Picks in action I have decided to finally set up a LC account.

Me and my partners run this kind of suff thru an LLC which should make me an "institutional" account and was wondering if there were any pit falls to be aware of?   Postive comments welcome too.

Resident of Washington state and LCC based in WA too.

TIA

[mukoh]

Same thing for me. In WA and thinking of doing through LLC that has investment capital.