Questions about Series LLCs

[Sonya C.]

Hi All,

I'm new to bigger pockets and would like to start investing in out-of-state real estate (buy and hold, LTR). I've been reading some posts here about setting up individual LLCs for each property for asset protection, and saw that some state allow Series LLC but got quite confused with the various posts.

I currently live in Phoenix AZ, and plan to invest in out-of-state properties. AZ does not seem to recognize Series LLC, so I'm wondering if I could set up a Series LLC in either WY or TX, then use it to purchase properties in Ohio or Alabama?

Do I also need a "operating series LLC" set up in WY/TX, and in this case do I need separate bank accounts for each series? Do I also need to create a LLC in the state that the properties are purchased (OH/AL)?

Thank you!