Better to start new LLC? Or use same one?

[Cliff T.]

Hi all, looking to get some sage advice from the BP community...

What is your strategy when it comes to starting new LLCs? My 2 investment partners and I started an LLC for our holdings in KCMO, but we're looking to expand our rental portfolio into a couple other states.

Does it make sense to start a new LLC in each of those states? Or should we simply register the current LLC as a foreign entity in the other states?

At this point, we aren't too concerned with liability as we only have a few SFHs. The larger concern is convenience, ease of management, and paperwork come tax time. I'm assuming having one LLC makes things a lot easier, but want to confirm...