Virtual Wholesaling in a Different State

[Simon Abramov]

Hi all,

I am looking to begin virtual wholesaling properties in FL. My question is: would it be wise to form an LLC in a more tax-friendly state, such as Delaware or Nevada? If I live in NY, but I do not intend to do any business in NY, would I need to have my out of state LLC filed as a foreign LLC in NY?

Essentially, I am looking to form an LLC in Delaware, do wholesale deals in FL, all while residing in NY. I understand I would need to create a foreign election of the Delaware LLC in Florida, but I'm not sure about NY. Any recommendations on this, or what to stay away from, is greatly appreciated. Thank you.