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Updated over 1 year ago,
Transfer to LLC before exchange?
I'm new to this and thinking of exchanging a fourplex near San Diego for some properties nearer to my residence, in Wisconsin. I received the property from my mother as gift (not inheritance) so there is quite a bit of tax liability if I just sell it. I'm thinking I need to have an LLC for any rental property that I have, and so I have been trying to understand what I need to do to transfer this California property into a Wisconsin LLC; and if I need to do that before the exchange. If not, then is there any problem with purchasing the replacement property as an LLC?