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Updated over 7 years ago,
Which state should I form the LLC in? This is getting complicated
Ok BiggerPockets Community, I am trying to figure out which is the right state to form a new Management LLC in. However, I cannot find reliable information online without somebody trying to sell me something. I really need some input from somebody who has done this. Here is the situation:
- I have an Arizona LLC setup that owns 3 Arizona properties (these we my first 3 properties)
- The Arizona LLC both owns the properties and manages them.
- I now own 4 more properties in Florida, 2 in my personal name (lending reasons) and 2 in my Arizona LLC.
- I live in Texas.
- I want to form a Management LLC to handle the property management duties of all 7 properties. I'm trying to create separation between the entity dealing with the tenants, vendors, etc. and the entity that actually owns the assets. Where do I set this up? Texas, Arizona, Florida, or somewhere else??
Should it be Texas since I live there and will be handling all of the management duties from that location? My issue with Florida is that they do not provide the same single member LLC protection as other states.
Thanks for any info you can contribute!