Entity advice for Californian investing out of state

[Kody Crouch]

I live in California, and have recently closed my first few real estate deals in Wisconson. I want to create entities to protect my personal assets from consequences of the real estate business.

As I understand it, the two entities that make the most sense for California Residents investing out of state are a Series LLC and a Delaware Statutory Trust. However, they offer slightly different protections and costs. California also has special fees that apply to out of state LLC's, and I don't understand whether the tax treatment of these entities are different.

Would appreciate any advice, as well as a reference for a lawyer to advise and help create protections offered by different entities (Series LLC vs Delaware Statutory Trust for example) and a CPA to help advise on the costs/benefits of using those same types of entities.