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Updated about 1 year ago,

User Stats

6
Posts
5
Votes
Mitchell Mabee
Pro Member
  • New to Real Estate
  • Lee's Summit, MO
5
Votes |
6
Posts

Properties in multiple states as a one person show

Mitchell Mabee
Pro Member
  • New to Real Estate
  • Lee's Summit, MO
Posted

I'm in the military and I already own one property under an LLC in Missouri. I've been lucky enough to get orders to Florida where I now also own a house. I'm planning on renting it out in the future, but I have a few questions on owning properties in multiple states:

- First and foremost, is there anyone I should be asking these questions to, like a lawyer or CPA?
- Should I keep my Missouri LLC and use it in Florida as a foreign entity? Should I create an umbrella LLC? How does that work?
- What are recommendations on using one bank account/accounting software vs individual accounts?  Reminder that I'm one person trying to do it all, so ease of use is important
- Anything else that I might need to know to run multiple properties in multiple states?


Thanks for any and all help!

  • Mitchell Mabee
  • Loading replies...