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Updated about 5 years ago,
Non Us Resident seeking to buy properties in different states
Hi there, I am a Spanish resident (non US resident, so no home state) seeking to invest buying several properties in the US to rent and generate cashflow.
I have not yet decided in which state (or states) the properties will be, as I will probably use Roofstock.com to buy them, and I am looking at several different cities in different states.
The plan is, after purchasing the properties, I will hire a professional property management company. I don't plan to handle the rentals directly.
I understand there are complexities in having properties in different states from a tax/incorporation perspectives.
The question is: Where should I create the LLC to buy the properties? Or should I create LLC's in different states where the properties are located?
For example, I have read that creating an LLC in Wyoming offered good liability protection, but it is not 100% clear that I can buy, for example 1 house in OHIO, 1 house in INDIANA and 1 house in FLORIDA, and then hire property management. Do I have to create LLCs in each one of those states instead?
Thanks in advance for your help!!