Setting Up LLC Under Different State

[Jason Kim]

Hello BP Meembers,

I am currently in the process of setting up my LLC and my CPA told me to set it up under a different state LLC because it's much cheaper. I live in Chicago and he said that it costs around $500 to set up, and he also said to set up different LLC's if fix and flips are going to be partnered with someone. But if LLC is set up through Colorado, it only costs $150 to set up and I will be saving lot of money and the way the laws work will still be the same.

Is this really true and should I goahead and set it up that way?

Thank you in advance.