LLC in State or Out of State?

[Andrew Hinspater]

Hi everyone, my business partner and I have just purchased our first rental property, and are now thinking of the best way to manage the property from a business perspective. We've looked into and are pretty convinced we would like to make an LLC to manage the property (although if anyone has any reservations about that, we're open to other perspectives), however we aren't sure if we should make the LLC in the state we are buying the property in or if we should make an LLC in another more "corporate friendly" state. What advantages do we have by making the entity in the state our property is in that we wouldn't get anywhere else? Does the state your LLC is in really matter with only a handful of investment properties? Google searches on this subject haven't proved to be succinct or clear, so any help would be appreciated!