LLC, needing help with best options. Need to decide ASAP.

[Geri May]

Purchasing a condo in Tennessee, but we live in another state, do you recommend getting a LLC in Tennessee or our home state? We've heard getting one in Nevada or Delaware may be best. What are your thoughts, need to do as soon as possible.

[Jason Bott]

@Geri May I'd recommend saving $ on the LLC and going with General Liability limit of $1M, and add an Umbrella policy if you feel you need higher limits.

Risks with a condo rental are even less than a SFR as the condo association is controlling & insuring the common areas.