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Updated about 3 years ago,
Single purposes LLC creation
I live in CA and my business partner in PA. We are looking to buy a 6 unit multifamily property in PA that'd come under commercial mortgage. How would we create a single purpose entity / LLC that will have only the property as asset? Should it be Delaware/ Nevada based kind of LLC that would have both me and my partner? Or create one in PA because that's where the property is? What are the ways to set one up? I am venturing into commercial mortgage space for the first time and hence this fundamental question. Thanks for being generous with your time and knowledge.