LLC advice when owning properties in multiple states??

[Joe Cusick]

My wife and I are just getting started in REI. We live in PA and established an LLC here earlier this year in anticipation of buying investment properties. We figured we should get one established, but the tricky thing now is we are not just looking to buy properties here in PA. As a matter of fact, we are now under contract with 2 properties in IL. We have also been looking at the Memphis market.

Is it recommended to have an LLC in each state you acquire property and then after you close, put the LLC on the deed?

Can we work off of just the one we have in PA?

We are going to obtain a personal liability insurance policy for $1MM, which I am told is a good move to further protect our personal assets.

Any thoughts or feedback is greatly appreciated!

Thank You!