LLC in my state for a property in a different state

[Chris Balestriere]

Hi BPers!

My brother and I recently purchased a rental property in Albany, NY. Talking to our Lawyer over there, he says it will cost around $1,400-$1,700 to set up an LLC for the property there, which is fine; but I also hear NY LLC protection isn't nearly as effective as other states. For that price, I want to be sure I am protected. We found out that we can set up an LLC for ourselves online in our home state (Connecticut) for under $300. My question is: Is it legal and will the LLC hold precedence if we set it up for our New York property in Connecticut? I've read other threads about paying taxes in a different state, but in this case, we are already paying Connecticut taxes, so the difference is if it is feasible or not. Please, any words of wisdom would be greatly appreciated.

Best,

Chris