Where/how to form LLC with 2 partners from diff states

[Sergii Khromchenko]

Good evening dear Big Pocketers!

  I am a newbie from CA. Starting our with a plan to buy first investment property with a friend who is from OH. We are going to invest into MF in WI or IL.

I wasn't able to find pros and cons in a google of where to create a LLC and what the circumstances would be. I can guess that we can do that in either state where it would cost less, but hearing it from person who've done it would definitely give me more confidence!

Please share your thoughts of how does it usually get's done and how would you go!

Thank you for your time!

[Scott L.]

Form in the state in which the property is operated/located. If you form elsewhere the entity will still have to qualify to do business in the state of operation and that typically costs as much as just forming it there.