LLCs and Foreign Entities

[Nick Dame]

My partner and I were new to Real Estate investing 10 years ago and bought a rental property and placed it in an LLC outside the state of the property. We never realized that it was necessary to file as a foreign entity and file taxes there as we assumed it would all pass through. Mortgage and property manager relationship is in our names.

Should we register the LLC as a Foreign Entity now before tax season or just pull the property out of the LLC with no harm, no foul?