Vacation rental (3 states and Mother involved)

[Bryan Kyle]

Situation:

- Looking to purchase a vacation rental.  

- Involved parties:  Myself and Mother.  She is financing and I am doing leg work. 

- Property in North Carolina. I live in Georgia. Mother lives in South Carolina.

- Will be using a management company at least for the first year.

- Need advice as to the best way to structure (LLC, Trust, Personal with umbrella)?

- Where is the best place to consult attorney and accountant?  Which state or does it   matter?

I realize vacation rentals are not a favorite investment but it will be used by my Wife and I at least one weekend a month throughout the year.  The main goal is to make a little more for my Mother than she would make with a CD or other "safe" investment.  And allow us to give the $300 we would be paying for rent somewhere else once a month to my Mother instead.