General LLC Questions

[Mike Gordon]

I think I'm ready to form an LLC for the next property I buy and am currently writing a few offers. I had some questions about LLCs that some of you might be able to answer:

- I'm thinking of filing in Nevada or Wyoming. It looks like the annual fees are higher for Nevada. I live in CA currently. Does anyone recommend those states or others?
- Is it hard to change the mailing address of an LLC? I one day intend to spend more time in a state like Nevada and would want the address to be there.
- How does an LLC pay business related expenses? Do you always have to find a bank that provides business accounts? Can you "expense" expenses with a personal credit card and draw a reimbursement? I'd like to hear about how others manage this.
- If you have a property in an LLC how hard it is to refinance or take a loan against the property in the future? Does an LLC prevent you doing it with your personal credit?
- Are there any unexpected expenses you ran into with LLCs other than the annual state filing fees?