Investing out of state

[Noman Mahmood]

I am a first time real estate investor. Currently living in wisconsin. I am looking to invest in a two or three family property in north jersey. Close to family. My major concern would be 1. Should I form a LLC ? If so should it be formed in my home state of wisconsin or in NJ. Would I be liable for state income tax in both states? Would making a LLC reduce my tax liability and enable it for me to pay taxes to one state only? I have been reading some forum posts that lenders would not give a loan to LLC and some people are recommending buying rental properties under own name and getting umbrella insurance. I am looking for some input to see what the best approach forward should be. Any help would be appreciated. Thanks