Out of State investment property-Dual income taxes?

[Lindsay G.]

HI all! I purchased an investment property in Myrtle Beach, SC and live in San Diego, CA. I have an investing company based out of San Diego (just started and purchased 2 properties).

I plan on AirBnB-ing the property in SC. This state requires a business license if you own an income property in this state.

My question is: Once I establish a biz license in SC, do I need to claim the income/expenses in both states under the new biz license in SC as well as under the biz license that I have in CA?

I have already purchased this SC property with funds from CA biz as well as spent $7K to rehab property under the CA biz. Then I will start a biz in SC and utilize this for income/expenses? Just wondering if anyone else has had to deal with the same situation and how it works out with taxes.

Thank you for your time and responses!