AND, if the LTRs are out of state, you will need to register your LLC as a foreign entity in the state you are operating in if you are being paid from that state.

You can usually register a foreign LLC in a different state for a fee. 

Otherwise there would be a whole slew of foreigners that fall into this camp.   

@Jagjit SinghWe have partners who are foreign investors.

Rates as of this posting date vary but are in the 6s and 7s (or possibly 8s if not a top tier credit score or a foreign national loan as considered a higher risk and will be reflected in the rate).

I have a property in CA that I want to put into an LLC.A lawyer advised me to register my LLC in Nevada and then complete the foreign entity process for the LLC to also be registered in California, where the property is. 

They would target low income borrowers with low credit scores (hence the "sub" in subprime mortgages) and foreigners who were not fluent in English and provide them mortgages, often times more than one.

You form the LLC in your state and then register it as a foreign entity where your property is.  

or as a complete foreigner? 

Tax Treaty, which allows you to claim a foreign tax credit on your Canadian return for taxes paid to the U.S.