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Question regarding LLC formation for a Short Term Rental
I just purchased my first STR in Gulf Shores, AL, with an investment loan, not a second home. My question is do I need to go ahead and form and LLC now? I will be going live on AirBnB next week. Also, since I live in Houston, TX, can the LLC be formed in my hometown or does it have to be an Alabama LLC?
Any advice would be appreciated!
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John Underwood
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If you have a mortgage you don't need an LLC. You can always get an umbrella policy if your worried.