Creating an LLC: state where properties are located

[Tanya Maslach]

Hi all

Some context:

We have 1 LTR in Denver now, and reside there. We do NOT have a separate LLC for it. Taxes/Expense: flow through our personal taxes.

Questions:
a. We are about to buy properties in OH. Should we set up a simple LLC in Ohio? Or does it matter (can we create one in Colorado)?

b. What are cost and time effort for setting up an LLC for REI purposes? Curious to learn options for ease of set up and $ hard costs (Think about it like Tier 1, Tier 2, Tier 3, with Tier 1 being "just fine, it works" and Tier 3 being "Pro-Level with Pro Prices")

Thank you!  HAPPY THANKSGIVING!
Tanya