Buying property out of state

[Eva Mackowski]

Good Morning Everyone,

I live in Texas and am looking at moutain cabins in North Carolina & South Carolina, mainly as a vacation type property, but also turning it into a VRBO. I've looked at the areas I'm interested in and they are VRBO areas. The properties are SFH currently, with acreage.

My question is, since I live in Texas, and I'm interested in buying these properties outside of Texas, and looking to turn them into VRBO's, would I need to set up a business in the state the rental is located in, or can I buy them and place them under my current Texas LLC?

What are the tax implications here, and how best to protect our assets in this case? I want to make sure that the VRBO is under an LLC , but am unfamiliar with how this all would work..

advise please.. thank you!