Rentals, Relocation, and Taxes, oh my

[Cory Melick]

Hey BP,

I have another newbie question. I own two, newer rental properties in WV. I will be relocating to Charlotte, NC by the end of 2014. I would lose money if I sold the properties and neither of them are in any business entity.

Can I wrap those two properties into an LLC formed in NC once I acquire a few rentals in NC? If not, which would be better

1. Keep WV rentals in my name and treat as personal property

2. Form LLC in WV to hold the properties as business assets

Thanks in advance for the advice!