New Member. LLC Multiple Homes out of state

[Jaja Banks]

Hi Everyone!  

I am brand new here and truly to real estate investing.  My parents are essentially giving me 3 homes to tackle myself.  

One is a condo with a mortgage left of 320k @ 4%, is capable of being Section 8 @ ~$3.8k per month in DC (no rehab necessary).

Next two are houses that are completely paid for.  One needs a good bit rehab and houses in that area of NC are now going for 280k and renting for $1200 with comparable sq ft.  The other needs less rehab with houses selling for around 100k or renting for $600-$800.  I have not as of yet retrieved estimates for rehab of both houses. 

My question is what strategy should I take to appropriately LLC the houses considering I currently reside in FL? Do I establish each LLC in Florida and create a foreign LLC in NC/DC or is there a more efficient route?

Also, as both NC houses are paid for, is it a better idea to simply cash flow post-rehab or sell? 

[Bill Hampton]

@Jaja Banks

Welcome to Bigger Pockets and good luck investing.