Tips for forming first LLC?

[Evan St. George]

My wife and I are in the process of closing on a multi-family in upstate NY (our first property) that we plan to owner-occupy. I know the strong advice is to set up an LLC and transfer the property into that LLC once we close on it, to limit our personal risk. Does the LLC need to be established in NY, where we will live? Can anyone strongly recommend an alternative, or provide any other LLC-related tips for someone just starting out? Thanks!