If you want to shower me w/advice on my specific scenario:2x Duplexes4% Mortgage Rates / Very small loansMixture of LTR/MTR/STRActive Income (not very passive)Net Income around $24,000 in totality (however my books are a mess and am currently working with someone to CLEAN THEM UP so I can get a clearer picture)Would you a) hold; b) sell and open a franchise or other business venture ?

For those that don't know, TN recently changed the way the franchise tax is calculated. 

I think you have to pay $1500 to franchise tax board if you are from CA and if you have LLC regardless if you have zero income.

Licensed Real Estate Broker owns a Realty One Group Franchise and also owns a Property Management firm servicing Queens, Brooklyn, Bronx and Long Island

Is it franchised or mom and pop.Your lease is meaningless if they go dark quickly.

Franchises like Coldwell Banker and RE/MAX have very expensive fees and then each individual office has their own fee structure.

There are three degrees of separation… the 1040 to the K-1 to the 1065 to the 8825.Downsides include the additional tax return preparation fees and perhaps unnecessary state taxes such as California’s franchise tax and LLC fee which can be summarized as money-grabs or pleasure to do business in our state fees.

Buy a franchise

Is there any way of having that property owned by an out of state LLC and not paying the franchise tax for just one property? 

This is a big argument for other fast food franchisers.