Creation of LLC for Real Estate

[Paul Stamm]

My Dad and I are looking at creating an LLC to purchase an investment property. We live in Indiana but are looking to invest in Kentucky. Does any know the implications of creating an LLC in Indiana all while being a "foreign business" in Kentucky.

Furthermore, my dad owns one investment property in Indiana and we are considering putting that into the LLC as well. Does anyone have experience with doing this and are there any tax consequences?