LLC formation for out of state investing of California resident

[Robert Mikulka]

I am looking to buy-and-hold a multi-family dwelling (2-3 unit town-home / apartment) in Dallas Ft. Worth area. I understand CA has special requirements for residents. I've read some previous posts and still have some questions about the set up. From what I can tell there are three scenarios I could consider:

1) Form an LLC in Texas, hire a registered agent there and register that LLC as a foreign corp in CA.

2) Form an LLC in CA, act as my own registered agent and register that LLC as a foreign corp in TX.

3) Form a 'holding" LLC in TX, hire a registered agent there, form a 'Management' LLC in CA that manages the TX LLC, act as my own registered agent for that LLC.

My questions:

a) Is it possible (and wise) to act as my own registered agent in CA to save $$? Does anyone have a recommendation for a registered agent firm for the out-of-state LLC's?

b) When registering as a foreign corp (in either state) do I have to do the same annual minutes, filing, and other paperwork as the actual LLC or does the paperwork, meetings etc of the actual LLC suffice (i.e. what paperwork is required of the 'foreign corp' each year).

c) What are the pro's con's of each scenario?

d) How do you specify a 'holding' vs 'management' LLC?

Any insight or advice would be appreciated.