Which states are best to form an LLC?

[Cole Harter]

Hello All,

My brother and I are new investors in the Michigan area. I currently live in Colorado and my brother is boots on the ground in MI. We just recently bought our first house and want to put it under an LLC. Is there pro's/con's to setting up the LLC in the same state as your rentals or is there particular states that have better benefits over others? I've heard Delaware and Nevada are good but not sure why.

Any input is appreciated!

Thanks,

-Cole

[Bill S.]

@Cole Harter this has been discussed a lot here. Do some searching using the search feature and there will be a lot of advise. There is no one answer but if you read 10-20 of the longs forum posts and a couple of the more popular blog posts you will at least get a handle on the basics.