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Updated about 1 year ago,
Properties in multiple states as a one person show
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!