We are a few friends from California looking to invest in multi family real estate in Ohio. Initially, we were thinking to make an LLC. For LLC, we need to register in Ohio and California. If we don't go the LLC route...

Just this year, I used that equity as down payments for multiple other buildings.

However, managing multiple LLCs can mean higher costs and administrative work (separate bank accounts, annual filings, etc.).It depends on your risk tolerance and ability to stay organized.

They are doing a similar thing in multiple cities, including OKC.

.-- But, what happens if the owner wants to drag out repairs with requests for multiple bids, takes weeks to review and approve those bids and then take even more time to send funding?

Hi @Ricky M. in reality, a realtor can help you market your property the right way and post on the Multiple Listing Service (MLS) for you and expose to lots of investors who are looking on there.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Also, be sure to consult a CPA about the timing of transitioning properties to an LLC to avoid potential complications with financing or taxes.Take time to compare multiple lenders and products that fit your strategy.

Of course, try to get multiple perspectives from different loan officers before committing. 

This year, when I listed it for sale, it got multiple offers, and we set a new record high price of $705,000 for ~800 sf.