Restructuring then refinancing question: South Carolina, Missouri

[Gerich Fellermann]

Hi all,

I've got questions on how to handle a situation with a couple moving parts. I'm an accidental investor but love houses & real estate so will continue to invest as cash allows and as I get more familiar with the game.

I live in Oregon and have 1 SFH in South Carolina & 1 SFH in Missouri. Both are rented with decent, but not stellar, cashflow. I want to keep the SC house long-term (it would be a good STR but have not done that because of distance), but am more objective with Missouri.

The house in MO (Kansas City) is in my wife's name only but we are separating and I will be taking over all title/operations etc as part of our separation. (SC house is fully in my name) She is amenable to this & cooperative. That means I need to both transfer title & mortgage to myself or an LLC I create. It was a 1031 financed privately because I just started my own business and did not have W2 income. The rate is high (6.5%), so I'm thinking I need to:

1. 1) setup a legal/company structure to protect current 2 houses & any future properties
2. 2) refinance mortgage & switch title of MO house out of my wife's name into mine or LLC structure
   1. quit claim deed from her to me
   2. *no ties to this house so could also sell, but am short on bandwidth b/c of new business so would rather hold for now and reassess later.
3. 3)refinance & switch title of SC house from my name into LLC structure
   

Down the line I will look to slowly add to the portfolio in either WA, WY (family), SC, NM (family) or continuing in MO).

Given my current mix of states & future intentions:
1) How & where should I form my LLC?
2) Would it make sense to look for a portfolio loan for these 2 properties? Someone to turn to for the next properties as well? Any recommendations?
3)Any legal pitfalls to watch for in the MO title transfer?
4) Any thoughts on the suitability of any of those states? (WA, WY, SC, NM, MO)

OK, I know there are a number of details to wade through, but thanks in advance for thoughts,

Much appreciated,

G